GE Vernova (NYSE:GEV) Earns “Buy” Rating from Guggenheim

Guggenheim reiterated their buy rating on shares of GE Vernova (NYSE:GEV) in a research note published on Thursday,Benzinga reports. Guggenheim currently has a $380.00 price objective on the stock.

A number of other research analysts have also recently commented on GEV. New Street Research set a $380.00 target price on shares of GE Vernova in a report on Wednesday, March 5th. The Goldman Sachs Group increased their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. BMO Capital Markets decreased their target price on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Susquehanna began coverage on GE Vernova in a research note on Wednesday, April 2nd. They issued a “positive” rating and a $370.00 price target for the company. Finally, Barclays cut their price objective on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $357.13.

GE Vernova Price Performance

NYSE GEV opened at $322.81 on Thursday. The business has a fifty day moving average price of $322.67 and a two-hundred day moving average price of $329.15. The stock has a market capitalization of $88.24 billion and a PE ratio of 58.06. GE Vernova has a fifty-two week low of $132.11 and a fifty-two week high of $447.50.

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

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GEV. Cedar Mountain Advisors LLC boosted its position in shares of GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares in the last quarter. MRP Capital Investments LLC bought a new position in GE Vernova in the fourth quarter worth approximately $25,000. Fairway Wealth LLC grew its stake in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares during the period. Pineridge Advisors LLC grew its stake in GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares during the period. Finally, Navigoe LLC bought a new stake in shares of GE Vernova during the fourth quarter valued at approximately $27,000.

About GE Vernova

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.