Barclays Boosts GE Vernova (NYSE:GEV) Price Target to $550.00

GE Vernova (NYSE:GEV) had its target price boosted by Barclays from $500.00 to $550.00 in a research report report published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also recently issued reports about the stock. Morgan Stanley reissued an “overweight” rating and set a $422.00 price target (up from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. Truist Financial set a $440.00 price objective on shares of GE Vernova in a report on Thursday, March 27th. Jefferies Financial Group lowered shares of GE Vernova from a “buy” rating to a “hold” rating and increased their price objective for the company from $427.00 to $517.00 in a report on Thursday, May 29th. Susquehanna restated a “positive” rating and issued a $499.00 price objective (up from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. Finally, New Street Research set a $380.00 price objective on shares of GE Vernova in a report on Wednesday, March 5th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $395.98.

GE Vernova Stock Performance

Shares of GEV opened at $482.74 on Monday. The company has a 50-day simple moving average of $400.27 and a 200-day simple moving average of $363.37. The firm has a market capitalization of $131.76 billion, a P/E ratio of 86.82, a P/E/G ratio of 3.03 and a beta of 1.97. GE Vernova has a 52 week low of $150.01 and a 52 week high of $500.72.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.54. The firm had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.47) earnings per share. As a group, equities analysts forecast that GE Vernova will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Thursday, April 17th. GE Vernova’s dividend payout ratio (DPR) is presently 14.41%.

Institutional Trading of GE Vernova

A number of hedge funds have recently modified their holdings of the stock. MRP Capital Investments LLC bought a new position in GE Vernova in the 4th quarter valued at about $25,000. Fairway Wealth LLC grew its holdings in shares of GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Pineridge Advisors LLC grew its holdings in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares during the last quarter. Navigoe LLC bought a new stake in GE Vernova during the 4th quarter worth approximately $27,000. Finally, EQ Wealth Advisors LLC bought a new stake in GE Vernova during the 1st quarter worth approximately $27,000.

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.