The Goldman Sachs Group Issues Positive Forecast for GE Vernova (NYSE:GEV) Stock Price

GE Vernova (NYSE:GEV) had its price target raised by The Goldman Sachs Group from $446.00 to $500.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. Raymond James lowered shares of GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Oppenheimer began coverage on GE Vernova in a research note on Thursday, September 26th. They issued a “market perform” rating for the company. JPMorgan Chase & Co. upped their price target on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday. HSBC restated a “hold” rating and issued a $255.00 price target (up from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Finally, TD Cowen began coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target for the company. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $339.73.

GE Vernova Stock Down 4.2 %

NYSE GEV opened at $419.27 on Friday. The company has a 50-day moving average price of $351.59 and a 200-day moving average price of $270.59. The firm has a market capitalization of $115.57 billion and a P/E ratio of 75.41. GE Vernova has a 52 week low of $115.00 and a 52 week high of $447.50.

GE Vernova (NYSE:GEV) last released its earnings results 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). The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities research analysts anticipate that GE Vernova will post 6.61 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.24%. GE Vernova’s dividend payout ratio is currently 17.99%.

GE Vernova declared that its Board of Directors has approved a stock repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On GE Vernova

A number of institutional investors have recently added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. boosted its position in GE Vernova by 3.5% during the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after purchasing an additional 27 shares in the last quarter. Hengehold Capital Management LLC boosted its holdings in GE Vernova by 2.4% in the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after acquiring an additional 29 shares in the last quarter. AdvisorNet Financial Inc boosted its holdings in GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after acquiring an additional 30 shares in the last quarter. Mutual Advisors LLC boosted its holdings in GE Vernova by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after acquiring an additional 31 shares in the last quarter. Finally, Pittenger & Anderson Inc. boosted its holdings in GE Vernova by 28.0% in the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock worth $41,000 after acquiring an additional 35 shares in 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.