GE Vernova (NYSE:GEV) Shares Up 6.4% – Still a Buy?

GE Vernova Inc. (NYSE:GEV) traded up 6.4% during trading on Tuesday . The company traded as high as $1,178.20 and last traded at $1,172.7270. 3,081,046 shares changed hands during mid-day trading, an increase of 10% from the average daily volume of 2,806,594 shares. The stock had previously closed at $1,102.51.

Analyst Ratings Changes

Several brokerages have recently weighed in on GEV. Wells Fargo & Company increased their target price on shares of GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Citigroup boosted their price target on GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. Oppenheimer set a $1,303.00 price objective on GE Vernova in a research note on Thursday, April 23rd. Guggenheim increased their price objective on GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Finally, Morgan Stanley lifted their target price on GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a research note on Monday, March 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,089.88.

GE Vernova Stock Performance

The company has a market cap of $315.14 billion, a PE ratio of 34.16, a P/E/G ratio of 3.87 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 $1,033.60 and its 200 day simple moving average is $869.03.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating the consensus estimate of $1.95 by $15.49. The business had revenue of $9.34 billion for 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%. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 earnings per share. 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. Investors of record on Tuesday, June 16th will be given a $0.50 dividend. 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 (DPR) is presently 5.83%.

Insider Buying and Selling

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the sale, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This trade represents a 39.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction that occurred on 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 sale, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GE Vernova

A number of hedge funds and other institutional investors have recently bought and sold shares of GEV. Cornerstone Financial Management LLC acquired a new position in shares of GE Vernova during the 4th quarter worth $25,000. Wealth Watch Advisors INC acquired a new stake in shares of GE Vernova in the third quarter valued at about $25,000. Torren Management LLC acquired a new stake in shares of GE Vernova in the fourth quarter valued at about $26,000. Manning & Napier Advisors LLC boosted its holdings in GE Vernova by 68.4% during the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after buying an additional 13 shares in the last quarter. Finally, ORG Wealth Partners LLC boosted its holdings 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 buying an additional 29 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.