GE Vernova (NYSE:GEV) Stock Price Up 2% – Here’s Why

GE Vernova Inc. (NYSE:GEV) rose 2% during mid-day trading on Tuesday . The stock traded as high as $828.53 and last traded at $818.31. Approximately 2,215,733 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 3,253,946 shares. The stock had previously closed at $802.13.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of recent research reports. Susquehanna raised their price objective on shares of GE Vernova from $800.00 to $820.00 and gave the company a “positive” rating in a research note on Thursday, January 29th. Wells Fargo & Company raised their price target on shares of GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Robert W. Baird set a $923.00 price objective on GE Vernova and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Morgan Stanley restated an “overweight” rating and issued a $817.00 target price on shares of GE Vernova in a report on Monday, January 26th. Finally, Royal Bank Of Canada upped their price target on GE Vernova from $761.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $788.24.

GE Vernova Trading Up 2.0%

The stock has a market capitalization of $220.56 billion, a P/E ratio of 45.06, a P/E/G ratio of 3.19 and a beta of 1.67. The stock’s 50-day moving average price is $693.45 and its two-hundred day moving average price is $636.37.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.99 by $10.40. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The business had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.21 billion. During the same period last year, the business posted $1.73 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, January 5th were issued a dividend of $0.50 per share. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s payout ratio is currently 11.24%.

Institutional Investors Weigh In On GE Vernova

A number of institutional investors and hedge funds have recently made changes to their positions in GEV. Jackson Grant Investment Advisers Inc. lifted its position in GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the last quarter. Cornerstone Financial Management LLC purchased a new stake in shares of GE Vernova during the 4th quarter valued at $25,000. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova during the 3rd quarter worth $25,000. Torren Management LLC purchased a new position in GE Vernova in the fourth quarter worth $26,000. Finally, ORG Wealth Partners LLC grew its position in GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after acquiring an additional 29 shares in the last quarter.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.