GE Vernova (NYSE:GEV) Price Target Raised to $740.00

GE Vernova (NYSE:GEV) had its target price boosted by JPMorgan Chase & Co. from $715.00 to $740.00 in a research note issued to investors on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

GEV has been the topic of several other reports. Mizuho lifted their price target on GE Vernova from $670.00 to $677.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. HSBC lifted their price target on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research report on Friday, September 5th. Glj Research lifted their price target on GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Melius Research set a $740.00 price objective on GE Vernova and gave the stock a “buy” rating in a research note on Monday, September 15th. Finally, Jefferies Financial Group boosted their price target on GE Vernova from $658.00 to $668.00 and gave the company a “hold” rating in a research note on Friday, September 12th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $607.59.

GE Vernova Price Performance

GEV opened at $584.68 on Thursday. GE Vernova has a 12 month low of $252.25 and a 12 month high of $677.29. The stock has a market cap of $158.64 billion, a P/E ratio of 95.23, a P/E/G ratio of 4.22 and a beta of 1.72. The stock’s 50 day moving average price is $611.31 and its 200 day moving average price is $531.04.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same quarter in the prior year, the business earned ($0.35) earnings per share. The firm’s revenue was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts anticipate that GE Vernova will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is 16.29%.

Insider Transactions at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.15% of the stock is owned by company insiders.

Institutional Trading of GE Vernova

A number of hedge funds have recently added to or reduced their stakes in the stock. Vicus Capital increased its holdings in shares of GE Vernova by 5.7% during the third quarter. Vicus Capital now owns 466 shares of the company’s stock worth $287,000 after buying an additional 25 shares in the last quarter. Godsey & Gibb Inc. bought a new position in GE Vernova in the third quarter valued at about $160,000. MGO One Seven LLC lifted its holdings in GE Vernova by 118.4% during the 3rd quarter. MGO One Seven LLC now owns 14,131 shares of the company’s stock worth $8,689,000 after buying an additional 7,660 shares during the period. Meeder Asset Management Inc. raised its holdings in shares of GE Vernova by 5,614.3% during the third quarter. Meeder Asset Management Inc. now owns 2,000 shares of the company’s stock valued at $1,230,000 after purchasing an additional 1,965 shares during the period. Finally, Citizens Financial Group Inc. RI raised its stake in shares of GE Vernova by 30.7% in the third quarter. Citizens Financial Group Inc. RI now owns 6,298 shares of the company’s stock valued at $3,873,000 after buying an additional 1,478 shares during the period.

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.