GE Vernova (NYSE:GEV) Trading Up 1.5% – What’s Next?

GE Vernova Inc. (NYSE:GEV) was up 1.5% on Tuesday . The stock traded as high as $910.94 and last traded at $910.4110. Approximately 1,335,718 shares were traded during trading, a decline of 53% from the average daily volume of 2,832,499 shares. The stock had previously closed at $897.36.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GEV shares. Evercore upped their price target on GE Vernova from $860.00 to $905.00 and gave the stock an “outperform” rating in a report on Thursday, January 29th. China Renaissance upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, January 29th. Guggenheim upgraded 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. Rothschild & Co Redburn upgraded GE Vernova from a “sell” rating to a “buy” rating and increased their price objective for the company from $560.00 to $1,100.00 in a report on Monday, March 9th. Finally, Morgan Stanley increased their price objective on GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, GE Vernova has an average rating of “Buy” and an average target price of $863.61.

GE Vernova Trading Up 1.5%

The firm has a market cap of $245.38 billion, a PE ratio of 51.15, a P/E/G ratio of 3.54 and a beta of 1.43. The business has a fifty day moving average price of $828.08 and a 200 day moving average price of $693.59.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. The business had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.73 EPS. On average, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s dividend payout ratio (DPR) is currently 11.24%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Torren Management LLC purchased a new position in GE Vernova during the 4th quarter worth approximately $26,000. Cornerstone Financial Management LLC purchased a new position in GE Vernova during the 4th quarter worth approximately $25,000. Jackson Grant Investment Advisers Inc. grew its stake in GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the last quarter. Wealth Watch Advisors INC acquired a new stake in GE Vernova during the 3rd quarter worth approximately $25,000. Finally, ORG Wealth Partners LLC lifted its position in GE Vernova by 241.7% during the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after acquiring an additional 29 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.