GE Vernova (NYSE:GEV) Trading Up 2.8% – Time to Buy?

GE Vernova Inc. (NYSE:GEV) traded up 2.8% during mid-day trading on Monday . The company traded as high as $814.86 and last traded at $801.25. 3,074,129 shares traded hands during trading, a decline of 9% from the average session volume of 3,391,996 shares. The stock had previously closed at $779.35.

Analyst Ratings Changes

Several research firms have weighed in on GEV. Bank of America increased their price target on shares of GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. Wells Fargo & Company increased their target price on GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Jefferies Financial Group restated a “buy” rating and issued a $930.00 price target on shares of GE Vernova in a research note on Thursday, January 29th. Wall Street Zen raised GE Vernova from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Finally, BMO Capital Markets reissued an “outperform” rating and set a $785.00 target price on shares of GE Vernova in a report on Thursday, January 29th. One 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Stock Performance

The company has a fifty day simple moving average of $670.00 and a two-hundred day simple moving average of $629.55. The stock has a market capitalization of $215.96 billion, a price-to-earnings ratio of 43.78, a PEG ratio of 3.10 and a beta of 1.67.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $10.40. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The company had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $10.21 billion. During the same quarter last year, the business earned $1.73 earnings per share. GE Vernova’s revenue was up 3.8% on a year-over-year basis. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 5th were issued a dividend of $0.50 per share. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is currently 11.24%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GEV. Brighton Jones LLC increased its stake in shares of GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after purchasing an additional 753 shares during the last quarter. Clear Creek Financial Management LLC bought a new position in GE Vernova in the second quarter valued at about $342,000. Aberdeen Group plc raised its stake in GE Vernova by 18.3% during the second quarter. Aberdeen Group plc now owns 109,420 shares of the company’s stock worth $58,110,000 after acquiring an additional 16,902 shares in the last quarter. Eastern Bank lifted its holdings in shares of GE Vernova by 7.1% in the second quarter. Eastern Bank now owns 2,512 shares of the company’s stock worth $1,329,000 after acquiring an additional 166 shares during the last quarter. Finally, Trust Co. of Toledo NA OH boosted its stake in shares of GE Vernova by 8.0% in the 2nd quarter. Trust Co. of Toledo NA OH now owns 1,126 shares of the company’s stock valued at $596,000 after purchasing an additional 83 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.