GE Vernova (NYSE:GEV) Upgraded to “Strong-Buy” at Evercore ISI

Evercore ISI upgraded shares of GE Vernova (NYSE:GEV) to a strong-buy rating in a research report report published on Monday,Zacks.com reports.

GEV has been the subject of several other research reports. Bank of America boosted their price objective on shares of GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Seaport Res Ptn cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. Melius raised GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective for the company in a report on Monday, September 15th. The Goldman Sachs Group reissued a “buy” rating and set a $840.00 price objective on shares of GE Vernova in a research report on Tuesday. Finally, Citigroup decreased their target price on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Four analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $680.52.

GE Vernova Stock Performance

Shares of GEV opened at $673.48 on Monday. The stock has a market capitalization of $182.73 billion, a price-to-earnings ratio of 109.20, a PEG ratio of 5.20 and a beta of 1.71. GE Vernova has a one year low of $252.25 and a one year high of $731.00. The stock has a 50 day moving average price of $600.25 and a 200 day moving average price of $586.50.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same period last year, the firm earned ($0.35) earnings per share. GE Vernova’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, analysts predict that GE Vernova will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.3%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, January 5th. GE Vernova’s dividend payout ratio (DPR) is currently 16.29%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jackson Grant Investment Advisers Inc. grew its holdings in GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after acquiring an additional 31 shares in the last quarter. Wealth Watch Advisors INC acquired a new stake in GE Vernova in the 3rd quarter valued at approximately $25,000. WFA Asset Management Corp acquired a new stake in GE Vernova in the second quarter worth about $29,000. 1248 Management LLC acquired a new position in shares of GE Vernova during the first quarter valued at approximately $31,000. Finally, Howard Hughes Medical Institute bought a new position in GE Vernova during the second quarter valued at about $31,000.

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.