GE Vernova (NYSE:GEV) Trading 1.9% Higher – What’s Next?

GE Vernova Inc. (NYSE:GEV)’s stock price was up 1.9% during trading on Tuesday . The stock traded as high as $844.27 and last traded at $843.3930. Approximately 2,238,622 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 2,882,798 shares. The stock had previously closed at $827.37.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GEV shares. Wolfe Research raised GE Vernova from a “peer perform” rating to a “buy” rating in a report on Wednesday, December 10th. Jefferies Financial Group reaffirmed a “buy” rating and set a $930.00 price objective on shares of GE Vernova in a research report on Thursday, January 29th. Weiss Ratings upgraded GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, February 5th. Morgan Stanley reissued an “overweight” rating and issued a $817.00 target price on shares of GE Vernova in a report on Monday, January 26th. Finally, Robert W. Baird set a $923.00 target price on shares of GE Vernova and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $831.29.

GE Vernova Trading Up 1.9%

The firm has a 50-day simple moving average of $762.83 and a 200-day simple moving average of $665.47. The firm has a market cap of $227.32 billion, a P/E ratio of 47.38, a PEG ratio of 3.20 and a beta of 1.44.

GE Vernova (NYSE:GEV) last issued 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 return on equity of 46.91% and a net margin of 12.83%.The firm had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. During the same period in the prior year, the business posted $1.73 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend 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 presently 11.24%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GEV. Synergy Asset Management LLC raised its stake in shares of GE Vernova by 300.0% in the third quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock worth $1,078,000 after purchasing an additional 1,413 shares during the last quarter. J.W. Cole Advisors Inc. boosted its position in GE Vernova by 25.3% in the third quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company’s stock valued at $9,990,000 after buying an additional 3,278 shares during the last quarter. Kercheville Advisors LLC boosted its position in GE Vernova by 238.3% in the third quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock valued at $3,016,000 after buying an additional 3,455 shares during the last quarter. Rakuten Investment Management Inc. acquired a new position in GE Vernova in the 3rd quarter worth approximately $18,601,000. Finally, US Bancorp DE raised its position in GE Vernova by 2.2% during the 3rd quarter. US Bancorp DE now owns 100,542 shares of the company’s stock worth $61,824,000 after buying an additional 2,163 shares during 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.