Traders Buy High Volume of GE Vernova Call Options (NYSE:GEV)

GE Vernova Inc. (NYSE:GEV) was the recipient of some unusual options trading on Friday. Traders purchased 27,441 call options on the company. This is an increase of approximately 38% compared to the typical daily volume of 19,957 call options.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. BMO Capital Markets upped their target price on shares of GE Vernova from $710.00 to $780.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Cowen reissued a “buy” rating on shares of GE Vernova in a research note on Thursday, October 23rd. Barclays upped their price objective on shares of GE Vernova from $800.00 to $830.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Finally, UBS Group raised their target price on shares of GE Vernova from $760.00 to $835.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $703.04.

Institutional Investors Weigh In On GE Vernova

Institutional investors have recently modified their holdings of the stock. Brighton Jones LLC lifted its stake in GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after buying an additional 753 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in GE Vernova by 4.7% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,475 shares of the company’s stock worth $780,000 after purchasing an additional 66 shares during the last quarter. Mirador Capital Partners LP acquired a new stake in shares of GE Vernova in the second quarter valued at approximately $208,000. Procyon Advisors LLC bought a new stake in shares of GE Vernova during the second quarter valued at approximately $396,000. Finally, Sunpointe LLC acquired a new position in shares of GE Vernova during the second quarter worth approximately $275,000.

GE Vernova Trading Up 6.3%

GEV stock traded up $40.40 during trading on Friday, reaching $682.63. The stock had a trading volume of 3,177,682 shares, compared to its average volume of 2,770,280. The firm has a fifty day moving average price of $627.34 and a 200 day moving average price of $610.18. The company has a market capitalization of $185.21 billion, a P/E ratio of 111.17, a PEG ratio of 2.70 and a beta of 1.67. GE Vernova has a 1-year low of $252.25 and a 1-year high of $731.00.

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

GE Vernova Increases Dividend

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

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.