GE Vernova (NYSE:GEV) Upgraded by Guggenheim to “Buy” Rating

Guggenheim upgraded shares of GE Vernova (NYSE:GEV) from a neutral rating to a buy rating in a report released on Wednesday, MarketBeat reports. The brokerage currently has $380.00 price target on the stock.

Other analysts have also issued reports about the company. Jefferies Financial Group raised their target price on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. CICC Research assumed coverage on GE Vernova in a research note on Wednesday, February 19th. They issued an “outperform” rating for the company. Johnson Rice assumed coverage on GE Vernova in a research note on Friday, February 7th. They issued a “buy” rating and a $425.00 target price for the company. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Finally, Evercore ISI raised their target price on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $347.83.

GE Vernova Price Performance

Shares of GEV stock opened at $317.17 on Wednesday. The stock has a market cap of $87.51 billion and a P/E ratio of 57.04. GE Vernova has a one year low of $115.00 and a one year high of $447.50. The stock has a fifty day moving average price of $361.95 and a 200 day moving average price of $308.22.

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

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.32%. The ex-dividend date was Friday, December 20th. GE Vernova’s payout ratio is presently 17.99%.

GE Vernova announced that its board has approved a stock repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On GE Vernova

Several large investors have recently made changes to their positions in the stock. Armstrong Advisory Group Inc. boosted its holdings in shares of GE Vernova by 3.5% in the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after buying an additional 27 shares during the last quarter. Hengehold Capital Management LLC boosted its holdings in shares of GE Vernova by 2.4% in the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after buying an additional 29 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of GE Vernova by 1.6% in the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after buying an additional 30 shares during the last quarter. Mutual Advisors LLC boosted its holdings in shares of GE Vernova by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after buying an additional 31 shares during the last quarter. Finally, WASHINGTON TRUST Co boosted its holdings in shares of GE Vernova by 1.9% in the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock valued at $560,000 after buying an additional 31 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.