GE Vernova (NYSE:GEV) Sets New 1-Year High – What’s Next?

GE Vernova Inc. (NYSE:GEV)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $959.37 and last traded at $956.0210, with a volume of 79250 shares traded. The stock had previously closed at $910.75.

Analyst Ratings Changes

Several research analysts have issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $785.00 price objective on shares of GE Vernova in a report on Thursday, January 29th. Evercore increased their price target on GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Wolfe Research raised GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. TD Cowen increased their price target on GE Vernova from $680.00 to $780.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Finally, Susquehanna increased their price target on GE Vernova from $800.00 to $820.00 and gave the company a “positive” rating in a research note on Thursday, January 29th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $863.61.

GE Vernova Trading Up 3.4%

The stock has a 50 day moving average price of $832.45 and a two-hundred day moving average price of $695.60. The company has a market cap of $253.93 billion, a price-to-earnings ratio of 53.25, a P/E/G ratio of 3.54 and a beta of 1.43.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. During the same quarter in the prior year, the company earned $1.73 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th will be given a $0.50 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is currently 11.24%.

Institutional Trading of GE Vernova

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