GE Vernova (NYSE:GEV) Trading 2.4% Higher – Time to Buy?

GE Vernova Inc. (NYSE:GEV)’s share price rose 2.4% during trading on Thursday . The stock traded as high as $1,090.70 and last traded at $1,088.4450. Approximately 1,661,851 shares were traded during trading, a decline of 39% from the average daily volume of 2,728,286 shares. The stock had previously closed at $1,062.57.

Wall Street Analyst Weigh In

GEV has been the topic of several research analyst reports. Erste Group Bank upgraded shares of GE Vernova to a “strong-buy” rating in a report on Tuesday, March 24th. Argus set a $1,300.00 price target on shares of GE Vernova in a report on Monday, April 27th. JPMorgan Chase & Co. boosted their price target on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Guggenheim boosted their price target on shares of GE Vernova from $910.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Finally, Susquehanna set a $1,300.00 price target on shares of GE Vernova in a report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,090.76.

GE Vernova Price Performance

The stock has a market capitalization of $292.49 billion, a P/E ratio of 31.71, a PEG ratio of 4.01 and a beta of 1.51. The stock’s fifty day moving average is $948.72 and its 200-day moving average is $769.13. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. The firm had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. GE Vernova’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. On average, equities analysts anticipate that GE Vernova Inc. will post 14.84 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th were issued a $0.50 dividend. 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 dividend payout ratio is currently 5.83%.

Institutional Investors Weigh In On GE Vernova

Large investors have recently bought and sold shares of the business. Brighton Jones LLC boosted 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 acquiring an additional 753 shares during the period. Schnieders Capital Management LLC. boosted its holdings in GE Vernova by 1.7% during the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after acquiring an additional 26 shares during the period. Jump Financial LLC bought a new stake in GE Vernova during the second quarter valued at about $258,000. Ossiam bought a new stake in GE Vernova during the second quarter valued at about $42,000. Finally, Nebula Research & Development LLC boosted its holdings in GE Vernova by 23.9% during the second quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock valued at $886,000 after acquiring an additional 323 shares during the period.

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.