CICC Research Begins Coverage on GE Vernova (NYSE:GEV)

CICC Research initiated coverage on shares of GE Vernova (NYSE:GEV) in a report issued on Wednesday,Benzinga reports. The brokerage issued an outperform rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Robert W. Baird initiated coverage on shares of GE Vernova in a report on Thursday, February 13th. They set an “outperform” rating and a $448.00 target price on the stock. Evercore ISI boosted their target price on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Citigroup boosted their target price on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Johnson Rice assumed coverage on shares of GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 price target on the stock. Finally, Baird R W raised shares of GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Eight investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $350.13.

GE Vernova Trading Down 8.9 %

NYSE:GEV opened at $327.68 on Wednesday. The firm’s 50 day moving average is $364.41 and its 200 day moving average is $299.31. GE Vernova has a 12 month low of $115.00 and a 12 month high of $447.50. The stock has a market capitalization of $90.41 billion and a PE ratio of 58.93.

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

GE Vernova declared that its Board of Directors has initiated a share buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.31%. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GEV. Cedar Mountain Advisors LLC grew its stake in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares during the last quarter. MRP Capital Investments LLC bought a new position in shares of GE Vernova during the fourth quarter valued at about $25,000. Fairway Wealth LLC grew its stake in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after buying an additional 55 shares during the last quarter. Pineridge Advisors LLC grew its stake in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after purchasing an additional 69 shares during the last quarter. Finally, Navigoe LLC bought a new stake in shares of GE Vernova in the fourth quarter worth about $27,000.

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.