GE Vernova (NYSE:GEV) Shares Up 3.7% – Time to Buy?

GE Vernova Inc. (NYSE:GEV)’s stock price was up 3.7% during mid-day trading on Friday . The company traded as high as $943.68 and last traded at $940.1420. Approximately 2,730,808 shares changed hands during trading, a decline of 0% from the average daily volume of 2,742,634 shares. The stock had previously closed at $906.79.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GEV shares. Wells Fargo & Company raised their price target on GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. BMO Capital Markets raised their price target on GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Barclays raised their price target on GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. BNP Paribas Exane downgraded GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target on the stock. in a research note on Monday, April 27th. Finally, Oppenheimer set a $1,303.00 target price on GE Vernova in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,085.16.

GE Vernova Stock Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The stock has a market capitalization of $252.63 billion, a PE ratio of 27.39, a P/E/G ratio of 3.21 and a beta of 1.23. The stock has a 50 day moving average of $1,007.95 and a two-hundred day moving average of $830.97.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the previous year, the business earned $0.91 earnings per share. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. Research analysts expect that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova’s payout ratio is presently 5.83%.

Insiders Place Their Bets

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the sale, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the sale, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by insiders.

Institutional Trading of GE Vernova

A number of institutional investors have recently bought and sold shares of GEV. Auto Owners Insurance Co raised its holdings in shares of GE Vernova by 110,973.4% in the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after acquiring an additional 34,826,773 shares during the last quarter. Norges Bank acquired a new position in shares of GE Vernova in the fourth quarter worth $2,283,114,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of GE Vernova by 5,171.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock worth $1,603,114,000 after acquiring an additional 2,406,326 shares during the last quarter. Capital World Investors raised its holdings in shares of GE Vernova by 1,907.5% in the third quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock worth $1,325,842,000 after acquiring an additional 2,048,792 shares during the last quarter. Finally, Corient Private Wealth LLC raised its holdings in shares of GE Vernova by 2,802.8% in the fourth quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company’s stock worth $1,051,407,000 after acquiring an additional 1,553,295 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.