Morgan Stanley Raises GE Vernova (NYSE:GEV) Price Target to $511.00

GE Vernova (NYSE:GEV) had its price target boosted by Morgan Stanley from $422.00 to $511.00 in a research note published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts have also recently commented on the stock. New Street Research set a $380.00 target price on shares of GE Vernova in a research report on Wednesday, March 5th. BMO Capital Markets increased their target price on shares of GE Vernova from $381.00 to $522.00 and gave the company an “outperform” rating in a research report on Friday, May 30th. Royal Bank Of Canada reduced their target price on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research report on Tuesday, March 18th. Truist Financial set a $440.00 target price on shares of GE Vernova in a research report on Thursday, March 27th. Finally, Wolfe Research cut shares of GE Vernova from an “outperform” rating to a “peer perform” rating in a research report on Friday, June 13th. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $429.13.

GE Vernova Stock Performance

NYSE:GEV opened at $506.74 on Tuesday. The company has a fifty day moving average of $439.93 and a two-hundred day moving average of $375.18. The stock has a market capitalization of $138.30 billion, a PE ratio of 73.02, a P/E/G ratio of 3.90 and a beta of 1.97. GE Vernova has a fifty-two week low of $150.01 and a fifty-two week high of $522.97.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.54. The company had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.56 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.47) earnings per share. Research analysts forecast that GE Vernova will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova’s dividend payout ratio is presently 14.41%.

Institutional Investors Weigh In On GE Vernova

Institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC increased its position in shares of GE Vernova by 79.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company’s stock valued at $67,622,000 after acquiring an additional 98,034 shares during the last quarter. Grandview Asset Management LLC boosted its stake in shares of GE Vernova by 48.8% in the first quarter. Grandview Asset Management LLC now owns 2,149 shares of the company’s stock valued at $656,000 after purchasing an additional 705 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of GE Vernova by 2.9% in the first quarter. State of Alaska Department of Revenue now owns 32,340 shares of the company’s stock valued at $9,872,000 after purchasing an additional 910 shares during the period. Flagship Harbor Advisors LLC boosted its stake in shares of GE Vernova by 21.3% in the first quarter. Flagship Harbor Advisors LLC now owns 2,435 shares of the company’s stock valued at $743,000 after purchasing an additional 427 shares during the period. Finally, Dynamic Advisor Solutions LLC boosted its stake in shares of GE Vernova by 104.7% in the first quarter. Dynamic Advisor Solutions LLC now owns 8,661 shares of the company’s stock valued at $2,644,000 after purchasing an additional 4,429 shares during the period.

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.