GE Vernova (NYSE:GEV) Sets New 12-Month High – Should You Buy?

GE Vernova Inc. (NYSE:GEV) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $822.00 and last traded at $823.6290, with a volume of 60307 shares trading hands. The stock had previously closed at $790.79.

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of research analyst reports. Glj Research boosted their price objective on shares of GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Wall Street Zen raised shares of GE Vernova from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Evercore boosted their price target on shares of GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. Susquehanna raised their price objective on shares of GE Vernova from $800.00 to $820.00 and gave the stock a “positive” rating in a report on Thursday, January 29th. Finally, Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 target price on the stock in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $788.24.

GE Vernova Price Performance

The stock’s 50 day simple moving average is $678.26 and its two-hundred day simple moving average is $631.83. The firm has a market cap of $218.66 billion, a P/E ratio of 45.72, a P/E/G ratio of 3.19 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 firm had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $10.21 billion. During the same period in the previous year, the firm posted $1.73 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The business 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. The ex-dividend date was Monday, January 5th. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is 11.24%.

Institutional Trading of GE Vernova

Institutional investors have recently bought and sold shares of the company. Jackson Grant Investment Advisers Inc. grew its holdings in shares of GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after buying an additional 31 shares during the last quarter. Wealth Watch Advisors INC bought a new position in GE Vernova in the 3rd quarter valued at approximately $25,000. Torren Management LLC bought a new position in GE Vernova in the 4th quarter valued at approximately $26,000. ORG Wealth Partners LLC boosted its stake in GE Vernova by 241.7% during the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after purchasing an additional 29 shares during the last quarter. Finally, Navalign LLC bought a new stake in shares of GE Vernova in the 4th quarter worth $27,000.

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.