GE Vernova (NYSE:GEV) Trading Up 1.4% – Time to Buy?

GE Vernova Inc. (NYSE:GEV)’s stock price shot up 1.4% during mid-day trading on Friday . The stock traded as high as $1,102.79 and last traded at $1,090.6370. 1,361,077 shares were traded during trading, a decline of 51% from the average daily volume of 2,796,323 shares. The stock had previously closed at $1,075.26.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wall Street Zen lowered GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Jefferies Financial Group cut their price objective on shares of GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating on the stock in a report on Thursday, June 11th. BMO Capital Markets upped their target price on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Oppenheimer set a $1,303.00 target price on shares of GE Vernova in a report on Thursday, April 23rd. Finally, BNP Paribas Exane lowered shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target on the stock. in a research report on Monday, April 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,089.88.

GE Vernova Stock Up 1.4%

The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $293.08 billion, a PE ratio of 31.77, a P/E/G ratio of 3.95 and a beta of 1.09. The stock has a 50-day moving average of $1,039.56 and a 200 day moving average of $893.94.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The business had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period last year, the company posted $0.91 earnings per share. GE Vernova’s quarterly revenue was up 17.0% compared to the same quarter last year. Sell-side analysts anticipate that GE Vernova Inc. will post 15.05 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova’s payout ratio is presently 5.83%.

Insider Transactions at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the sale, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Auto Owners Insurance Co raised its holdings in shares of GE Vernova by 110,973.4% in the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after purchasing an additional 34,826,773 shares during the period. Vanguard Group Inc. grew its holdings in GE Vernova by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock valued at $16,354,691,000 after purchasing an additional 208,162 shares during the period. State Street Corp increased its position in GE Vernova by 2.1% in the fourth quarter. State Street Corp now owns 11,469,670 shares of the company’s stock worth $7,496,232,000 after buying an additional 231,392 shares during the last quarter. Geode Capital Management LLC increased its position in GE Vernova by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock worth $4,074,039,000 after buying an additional 68,894 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of GE Vernova by 12.8% in the fourth quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock valued at $3,957,024,000 after buying an additional 685,466 shares during the period.

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.