GE Vernova (NYSE:GEV – Free Report) had its price target boosted by Citigroup from $354.00 to $544.00 in a report released on Monday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other brokerages have also recently commented on GEV. JPMorgan Chase & Co. increased their price target on shares of GE Vernova from $430.00 to $460.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Truist Financial set a $440.00 price target on shares of GE Vernova in a research report on Thursday, March 27th. UBS Group assumed coverage on shares of GE Vernova in a research report on Monday, July 7th. They set a “buy” rating and a $614.00 price target on the stock. The Goldman Sachs Group increased their price target on shares of GE Vernova from $500.00 to $570.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. Finally, BMO Capital Markets increased their price target on shares of GE Vernova from $522.00 to $590.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $459.29.

View Our Latest Analysis on GEV

GE Vernova Price Performance

NYSE:GEV opened at $554.96 on Monday. The firm has a 50-day moving average of $479.94 and a two-hundred day moving average of $391.73. The stock has a market cap of $151.46 billion, a P/E ratio of 79.96, a PEG ratio of 4.01 and a beta of 1.86. GE Vernova has a 1-year low of $150.01 and a 1-year high of $555.86.

GE Vernova (NYSE:GEV – Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating 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 company posted ($0.47) EPS. As a group, equities analysts expect that GE Vernova will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be paid a $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.18%. GE Vernova’s payout ratio is currently 14.41%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GEV. Norges Bank bought a new position in shares of GE Vernova in the fourth quarter valued at approximately $1,109,720,000. Capital International Investors boosted its holdings in GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock worth $4,886,164,000 after buying an additional 2,994,660 shares in the last quarter. GAMMA Investing LLC boosted its holdings in GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company’s stock worth $653,769,000 after buying an additional 2,135,066 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in GE Vernova by 1,638.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock worth $432,309,000 after buying an additional 1,238,690 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in GE Vernova by 252.9% during the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock worth $366,016,000 after buying an additional 892,549 shares in the last quarter.

GE Vernova Company Profile

(Get Free Report)

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.

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