GE Vernova (NYSE:GEV) Trading 4.2% Higher – What’s Next?

Shares of GE Vernova Inc. (NYSE:GEV) rose 4.2% during trading on Monday . The stock traded as high as $987.22 and last traded at $980.0750. Approximately 3,396,818 shares traded hands during mid-day trading, an increase of 24% from the average daily volume of 2,747,809 shares. The stock had previously closed at $940.66.

Analyst Ratings Changes

GEV has been the subject of several research reports. Guggenheim upped their price target on shares of GE Vernova from $910.00 to $1,300.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. TD Cowen upped their price target on shares of GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Citigroup upped their price target on shares of GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. JPMorgan Chase & Co. upped their price objective on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Finally, Rothschild & Co Redburn upgraded shares of GE Vernova from a “sell” rating to a “buy” rating and upped their price objective for the stock from $560.00 to $1,100.00 in a research report on Monday, March 9th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,085.16.

GE Vernova Stock Performance

The company has a market cap of $263.37 billion, a PE ratio of 28.55, a P/E/G ratio of 3.49 and a beta of 1.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The stock’s 50-day simple moving average is $1,008.85 and its 200 day simple moving average is $833.50.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. The company had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. GE Vernova’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 EPS. As a group, equities analysts anticipate that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio is presently 5.83%.

Insiders Place Their Bets

In other news, CEO Victor Abate sold 4,819 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the transaction, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This represents a 39.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GE Vernova

A number of large investors have recently made changes to their positions in the stock. Auto Owners Insurance Co increased its holdings in shares of GE Vernova by 110,973.4% in the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after purchasing an additional 34,826,773 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of GE Vernova by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock valued at $16,354,691,000 after purchasing an additional 208,162 shares in the last quarter. State Street Corp increased its holdings in shares of GE Vernova by 2.1% in the 4th quarter. State Street Corp now owns 11,469,670 shares of the company’s stock valued at $7,496,232,000 after purchasing an additional 231,392 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of GE Vernova by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock valued at $4,074,039,000 after purchasing an additional 68,894 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of GE Vernova by 12.8% in the 4th quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock valued at $3,957,024,000 after purchasing an additional 685,466 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.