GE Vernova (NYSE:GEV) Price Target Cut to $420.00 by Analysts at BMO Capital Markets

GE Vernova (NYSE:GEV) had its price target lowered by BMO Capital Markets from $471.00 to $420.00 in a report published on Monday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other analysts have also recently issued research reports about the stock. Wolfe Research initiated coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective for the company. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Truist Financial upped their price objective on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. upped their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Finally, Citigroup increased their target price on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $347.83.

GE Vernova Stock Up 1.3 %

GEV stock opened at $317.17 on Monday. The business’s fifty day moving average is $361.95 and its 200-day moving average is $308.22. The company has a market cap of $87.51 billion and a P/E ratio of 57.04. GE Vernova has a twelve month low of $115.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The business’s quarterly revenue was up 5.1% on a year-over-year basis. Research analysts anticipate that GE Vernova will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its Board of Directors has initiated a stock buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.32%. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

Institutional Investors Weigh In On GE Vernova

Hedge funds have recently bought and sold shares of the company. Waverton Investment Management Ltd lifted its stake in GE Vernova by 10.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock valued at $185,459,000 after purchasing an additional 66,455 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in GE Vernova in the 4th quarter valued at about $206,000. Hanlon Investment Management Inc. acquired a new stake in GE Vernova in the 3rd quarter valued at about $1,101,000. Atria Investments Inc lifted its stake in GE Vernova by 127.0% in the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after purchasing an additional 2,847 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC lifted its stake in GE Vernova by 1,126.0% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after purchasing an additional 822 shares during the last quarter.

GE Vernova Company Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.