GE Vernova (NYSE:GEV) Trading 3.8% Higher – Should You Buy?

GE Vernova Inc. (NYSE:GEV) shares shot up 3.8% on Friday . The company traded as high as $679.77 and last traded at $678.2940. 2,725,434 shares changed hands during trading, a decline of 19% from the average session volume of 3,372,782 shares. The stock had previously closed at $653.57.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of analyst reports. Susquehanna increased their price target on GE Vernova from $750.00 to $775.00 and gave the stock a “positive” rating in a research note on Wednesday, December 10th. Melius Research set a $740.00 target price on GE Vernova and gave the stock a “buy” rating in a research report on Monday, September 15th. Oppenheimer raised GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 target price on the stock in a research note on Wednesday, December 10th. Robert W. Baird set a $816.00 price target on GE Vernova in a report on Thursday, December 18th. Finally, Morgan Stanley increased their price objective on shares of GE Vernova from $710.00 to $822.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $691.11.

GE Vernova Stock Performance

The firm has a market capitalization of $184.03 billion, a PE ratio of 110.47, a PEG ratio of 4.98 and a beta of 1.67. The company has a fifty day moving average price of $610.93 and a 200-day moving average price of $599.39.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the prior year, the firm posted ($0.35) EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, January 5th. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio is currently 16.29%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jackson Grant Investment Advisers Inc. lifted its stake in shares of GE Vernova by 344.4% in the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the last quarter. Wealth Watch Advisors INC bought a new stake in GE Vernova in the third quarter worth $25,000. WFA Asset Management Corp purchased a new position in GE Vernova during the second quarter worth $29,000. 1248 Management LLC bought a new position in GE Vernova during the first quarter valued at $31,000. Finally, Howard Hughes Medical Institute purchased a new stake in shares of GE Vernova in the second quarter valued at $31,000.

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.