GE Vernova (NYSE:GEV) Shares Up 1.2% – Here’s What Happened

GE Vernova Inc. (NYSE:GEV) shares traded up 1.2% during mid-day trading on Monday . The company traded as high as $687.68 and last traded at $665.7510. 2,654,781 shares traded hands during trading, a decline of 11% from the average session volume of 2,989,883 shares. The stock had previously closed at $657.78.

Analyst Upgrades and Downgrades

Several research firms have commented on GEV. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of GE Vernova in a report on Wednesday, December 10th. Bank of America upped their price objective on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Glj Research lifted their target price on shares of GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a report on Monday, January 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of GE Vernova in a research note on Thursday. Finally, Susquehanna raised their price target on shares of GE Vernova from $750.00 to $775.00 and gave the company a “positive” rating in a research report on Wednesday, December 10th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $701.42.

GE Vernova Stock Up 1.2%

The firm has a market cap of $180.63 billion, a price-to-earnings ratio of 107.13, a price-to-earnings-growth ratio of 2.79 and a beta of 1.67. The company’s 50-day moving average price is $639.17 and its 200-day moving average price is $617.81.

GE Vernova Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s payout ratio is presently 32.57%.

Hedge Funds Weigh In On GE Vernova

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jackson Grant Investment Advisers Inc. boosted 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 purchasing an additional 31 shares during the last quarter. Wealth Watch Advisors INC purchased a new position in shares of GE Vernova in the third quarter worth about $25,000. ORG Wealth Partners LLC boosted its position in GE Vernova by 241.7% during the fourth 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 last quarter. WFA Asset Management Corp acquired a new position in GE Vernova during the second quarter worth about $29,000. Finally, Howard Hughes Medical Institute purchased a new stake in GE Vernova during the 2nd quarter valued at about $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.