GE Vernova (NYSE:GEV) Reaches New 1-Year High – Time to Buy?

GE Vernova Inc. (NYSE:GEV) hit a new 52-week high on Monday . The company traded as high as $1,009.89 and last traded at $997.3390, with a volume of 250889 shares. The stock had previously closed at $1,002.75.

Analyst Ratings Changes

A number of equities analysts have weighed in on GEV shares. Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 target price for the company in a research note on Friday, January 30th. Robert W. Baird set a $923.00 target price on shares of GE Vernova and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Glj Research boosted their target price on shares of GE Vernova from $758.00 to $1,087.00 and gave the stock a “buy” rating in a research note 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. Finally, Weiss Ratings upgraded shares of GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Three equities research 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. According to MarketBeat, GE Vernova presently has an average rating of “Buy” and an average target price of $919.48.

GE Vernova Stock Down 0.6%

The stock has a market cap of $268.10 billion, a price-to-earnings ratio of 56.03, a PEG ratio of 3.92 and a beta of 1.43. The stock’s fifty day moving average is $870.22 and its 200-day moving average is $716.06.

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

GE Vernova Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GEV. Brighton Jones LLC grew its holdings in GE Vernova by 29.4% during the fourth 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 period. Schnieders Capital Management LLC. lifted its stake in GE Vernova by 1.7% in the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after buying an additional 26 shares in the last quarter. Jump Financial LLC bought a new position in GE Vernova in the second quarter valued at approximately $258,000. Ossiam bought a new position in GE Vernova in the second quarter valued at approximately $42,000. Finally, Nebula Research & Development LLC lifted its stake in GE Vernova by 23.9% in the second quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock valued at $886,000 after buying an additional 323 shares in the last quarter.

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.