GE Vernova (NYSE:GEV) Shares Up 3.1% – Should You Buy?

GE Vernova Inc. (NYSE:GEV)’s share price was up 3.1% on Wednesday . The stock traded as high as $959.87 and last traded at $955.61. Approximately 2,226,856 shares were traded during mid-day trading, a decline of 19% from the average session volume of 2,735,680 shares. The stock had previously closed at $926.73.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GEV. William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Monday, August 3rd. Wall Street Zen lowered GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Vernova in a research note on Tuesday, July 21st. BMO Capital Markets reiterated an “outperform” rating on shares of GE Vernova in a report on Friday, August 7th. Finally, Morgan Stanley downgraded GE Vernova from an “overweight” rating to an “underweight” rating in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,133.15.

GE Vernova Stock Performance

The stock’s 50-day simple moving average is $1,040.83 and its 200 day simple moving average is $972.03. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. The company has a market capitalization of $254.51 billion, a PE ratio of 27.35, a P/E/G ratio of 3.39 and a beta of 1.21.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The business’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.86 EPS. As a group, research analysts expect that GE Vernova Inc. will post 15.46 earnings per share for the current fiscal year.

Insider Buying and Selling at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the 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 owned 1,835 shares in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in GE Vernova during the second quarter worth about $66,213,000. California State Teachers Retirement System increased its holdings in GE Vernova by 116,092.4% in the second quarter. California State Teachers Retirement System now owns 483,330,355 shares of the company’s stock valued at $567,845,501,000 after buying an additional 482,914,381 shares in the last quarter. Tanager Wealth Management LLP acquired a new stake in shares of GE Vernova during the 2nd quarter valued at approximately $234,000. Ameritas Advisory Services LLC boosted its stake in shares of GE Vernova by 272.5% during the 2nd quarter. Ameritas Advisory Services LLC now owns 3,915 shares of the company’s stock worth $4,599,000 after acquiring an additional 2,864 shares in the last quarter. Finally, Guardian Wealth Advisors LLC NC grew its holdings in shares of GE Vernova by 7.5% in the 2nd quarter. Guardian Wealth Advisors LLC NC now owns 473 shares of the company’s stock worth $556,000 after acquiring an additional 33 shares during the period.

About GE Vernova

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.