GE Vernova (NYSE:GEV) Stock Price Up 5.6% – Should You Buy?

GE Vernova Inc. (NYSE:GEVGet Free Report)’s stock price traded up 5.6% during mid-day trading on Friday . The stock traded as high as $779.56 and last traded at $778.97. 3,163,606 shares changed hands during mid-day trading, a decline of 7% from the average session volume of 3,394,758 shares. The stock had previously closed at $737.53.

More GE Vernova News

Here are the key news stories impacting GE Vernova this week:

Analysts Set New Price Targets

A number of research analysts have commented on the company. Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price objective on the stock in a report on Friday, January 30th. UBS Group reaffirmed a “buy” rating on shares of GE Vernova in a research note on Thursday, January 29th. 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 report on Thursday, January 29th. Wall Street Zen raised GE Vernova from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Finally, Evercore boosted their price target on shares of GE Vernova from $860.00 to $905.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $788.24.

Read Our Latest Stock Analysis on GE Vernova

GE Vernova Stock Up 5.6%

The firm’s 50-day simple moving average is $670.00 and its 200 day simple moving average is $629.55. The firm has a market cap of $209.96 billion, a P/E ratio of 43.76, a price-to-earnings-growth ratio of 3.10 and a beta of 1.67.

GE Vernova (NYSE:GEVGet Free Report) last posted its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $10.40. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The company had revenue of $10.96 billion for the quarter, compared to analyst estimates of $10.21 billion. During the same quarter in the previous year, the firm posted $1.73 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 5th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, January 5th. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio (DPR) is currently 11.24%.

Hedge Funds Weigh In On GE Vernova

A number of large investors have recently bought and sold shares of GEV. Brighton Jones LLC increased its position in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after acquiring an additional 753 shares during the period. Clear Creek Financial Management LLC bought a new position in shares of GE Vernova in the 2nd quarter worth about $342,000. Callan Family Office LLC lifted its holdings in shares of GE Vernova by 216.5% during the second quarter. Callan Family Office LLC now owns 6,581 shares of the company’s stock valued at $3,482,000 after purchasing an additional 4,502 shares during the last quarter. Baldwin Wealth Partners LLC MA purchased a new position in GE Vernova during the second quarter valued at $217,000. Finally, Stonebridge Financial Group LLC raised its position in shares of GE Vernova by 10.5% in the 2nd quarter. Stonebridge Financial Group LLC now owns 380 shares of the company’s stock worth $201,000 after purchasing an additional 36 shares during the last quarter.

GE Vernova Company Profile

(Get Free Report)

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.

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