GE Vernova (NYSE:GEV) Trading 5.7% Higher – Here’s What Happened

GE Vernova Inc. (NYSE:GEV) shares traded up 5.7% during mid-day trading on Tuesday . The stock traded as high as $879.89 and last traded at $879.2450. 2,294,238 shares changed hands during trading, a decline of 25% from the average session volume of 3,049,668 shares. The stock had previously closed at $831.70.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $930.00 price objective on shares of GE Vernova in a research note on Thursday, January 29th. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 10th. Bank of America boosted their price objective on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Royal Bank Of Canada raised their target price on shares of GE Vernova from $761.00 to $800.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $817.00 price target on shares of GE Vernova in a report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Price Performance

The stock has a 50-day moving average price of $707.95 and a 200 day moving average price of $642.37. The firm has a market cap of $236.98 billion, a price-to-earnings ratio of 49.40, a PEG ratio of 3.30 and a beta of 1.67.

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

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova’s dividend payout ratio is 11.24%.

Institutional Investors Weigh In On GE Vernova

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jackson Grant Investment Advisers Inc. boosted its stake in shares of GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after acquiring an additional 31 shares in the last quarter. Cornerstone Financial Management LLC acquired a new position in GE Vernova during the fourth quarter worth $25,000. Wealth Watch Advisors INC acquired a new position in GE Vernova during the third quarter worth $25,000. Torren Management LLC purchased a new stake in GE Vernova during the fourth quarter worth $26,000. Finally, ORG Wealth Partners LLC grew its holdings in GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after purchasing an additional 29 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.