GE Vernova (NYSE:GEV) Stock Price Up 4% – Should You Buy?

GE Vernova Inc. (NYSE:GEV) was up 4% during mid-day trading on Wednesday . The stock traded as high as $834.00 and last traded at $822.1130. Approximately 2,757,916 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 3,352,003 shares. The stock had previously closed at $790.79.

Analysts Set New Price Targets

GEV has been the topic of a number of analyst reports. Robert W. Baird set a $923.00 price objective on shares of GE Vernova and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Weiss Ratings raised GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. China Renaissance raised shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, January 29th. Wells Fargo & Company boosted their price objective on GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Finally, Rothschild & Co Redburn set a $475.00 target price on shares of GE Vernova in a research note on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $788.24.

GE Vernova Stock Up 4.0%

The firm has a market capitalization of $221.58 billion, a PE ratio of 46.19, a price-to-earnings-growth ratio of 3.19 and a beta of 1.67. The company’s fifty day simple moving average is $678.26 and its 200 day simple moving average is $631.83.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $10.40. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $10.21 billion. During the same quarter in the prior year, the company earned $1.73 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. Equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 5th were paid a $0.50 dividend. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 11.24%.

Institutional Trading of GE Vernova

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in GE Vernova by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock valued at $16,354,691,000 after acquiring an additional 208,162 shares during the period. State Street Corp grew its position in shares of GE Vernova by 1.3% during the third quarter. State Street Corp now owns 11,238,278 shares of the company’s stock valued at $6,910,417,000 after purchasing an additional 140,500 shares in the last quarter. Geode Capital Management LLC increased its stake in GE Vernova by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock worth $4,074,039,000 after acquiring an additional 68,894 shares during the last quarter. Norges Bank bought a new stake in GE Vernova in the fourth quarter worth $2,283,114,000. Finally, Northern Trust Corp increased its holdings in shares of GE Vernova by 1.8% in the 3rd quarter. Northern Trust Corp now owns 2,877,458 shares of the company’s stock worth $1,769,349,000 after buying an additional 51,738 shares during the last quarter.

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.