GE Vernova (NYSE:GEV) Sets New 52-Week High – Here’s What Happened

GE Vernova Inc. (NYSE:GEV)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $795.50 and last traded at $745.37, with a volume of 5051239 shares. The stock had previously closed at $780.25.

Analyst Ratings Changes

Several analysts have issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $785.00 target price on shares of GE Vernova in a research report on Thursday, January 29th. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a research note on Thursday, January 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $817.00 price objective on shares of GE Vernova in a research report on Monday, January 26th. China Renaissance upgraded GE Vernova to a “strong-buy” rating in a research note on Thursday, January 29th. Finally, Guggenheim upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 target price for the company in a report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and an average target price of $763.19.

GE Vernova Trading Down 4.5%

The company has a 50-day moving average of $663.44 and a 200-day moving average of $626.75. The company has a market capitalization of $200.90 billion, a price-to-earnings ratio of 41.87, a price-to-earnings-growth ratio of 3.14 and a beta of 1.67.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, topping the consensus estimate of $2.99 by $10.40. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The business had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.21 billion. During the same quarter last year, the company earned $1.73 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, January 5th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio (DPR) is currently 11.24%.

Institutional Investors Weigh In On GE Vernova

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Catalyst Financial Partners LLC grew its holdings in shares of GE Vernova by 15.0% during the fourth quarter. Catalyst Financial Partners LLC now owns 1,820 shares of the company’s stock valued at $1,190,000 after buying an additional 238 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. acquired a new stake in GE Vernova during the 4th quarter worth about $377,000. Knuff & Co LLC lifted its position in GE Vernova by 1.0% during the 4th quarter. Knuff & Co LLC now owns 2,255 shares of the company’s stock worth $1,474,000 after acquiring an additional 22 shares during the period. AIFG Consultants Ltd. grew its stake in GE Vernova by 8.8% during the 4th quarter. AIFG Consultants Ltd. now owns 542 shares of the company’s stock valued at $354,000 after purchasing an additional 44 shares during the last quarter. Finally, Legacy Financial Advisors Inc. increased its holdings in shares of GE Vernova by 3.1% in the fourth quarter. Legacy Financial Advisors Inc. now owns 2,331 shares of the company’s stock valued at $1,524,000 after purchasing an additional 69 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.