GE Vernova (NYSE:GEV) Stock Price Up 2% – Still a Buy?

GE Vernova Inc. (NYSE:GEV)’s share price traded up 2% during trading on Monday . The stock traded as high as $1,104.00 and last traded at $1,079.2150. Approximately 2,297,316 shares changed hands during trading, a decline of 18% from the average session volume of 2,787,302 shares. The stock had previously closed at $1,057.84.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Barclays increased their price objective on GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Sanford C. Bernstein initiated coverage on GE Vernova in a research note on Tuesday, June 16th. They issued an “outperform” rating and a $1,206.00 target price on the stock. Citigroup upped their target price on GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a research report on Monday, April 13th. Wells Fargo & Company raised their price target on GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Finally, Royal Bank Of Canada boosted their price target on GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,089.88.

GE Vernova Stock Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The firm’s 50 day moving average is $1,037.54 and its 200-day moving average is $910.60. The firm has a market cap of $290.01 billion, a price-to-earnings ratio of 31.44, a price-to-earnings-growth ratio of 3.90 and a beta of 1.09.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The business’s quarterly revenue was up 17.0% on a year-over-year basis. Sell-side analysts anticipate that GE Vernova Inc. will post 15.06 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, June 16th. 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 5.83%.

Insider Activity at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction on 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 directly owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the sale, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Cornerstone Financial Management LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at $25,000. Wealth Watch Advisors INC acquired a new stake in shares of GE Vernova during the 3rd quarter valued at about $25,000. Torren Management LLC bought a new stake in GE Vernova in the fourth quarter valued at about $26,000. Manning & Napier Advisors LLC increased its stake in GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after acquiring an additional 13 shares during the period. Finally, ORG Wealth Partners LLC increased its stake in GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after acquiring an additional 29 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.