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

GE Vernova Inc. (NYSE:GEV)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $822.00 and last traded at $823.6290, with a volume of 60307 shares changing hands. The stock had previously closed at $790.79.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wall Street Zen upgraded GE Vernova from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. BMO Capital Markets reiterated an “outperform” rating and issued a $785.00 price target on shares of GE Vernova in a research note on Thursday, January 29th. Oppenheimer reissued an “outperform” rating on shares of GE Vernova in a report on Thursday, January 29th. Royal Bank Of Canada raised their target price on shares of GE Vernova from $761.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Finally, Barclays reaffirmed an “overweight” rating and issued a $849.00 target price on shares of GE Vernova in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $788.24.

GE Vernova Stock Up 2.6%

The business’s fifty day moving average is $678.26 and its 200-day moving average is $631.83. The company has a market cap of $218.66 billion, a PE ratio of 45.72, a P/E/G ratio of 3.19 and a beta of 1.67.

GE Vernova (NYSE:GEV) last released 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 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 the consensus estimate of $10.21 billion. During the same period last year, the firm earned $1.73 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, January 5th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.2%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, January 5th. GE Vernova’s dividend payout ratio (DPR) is presently 11.24%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. RFG Advisory LLC boosted its position in shares of GE Vernova by 2.1% during the fourth quarter. RFG Advisory LLC now owns 634 shares of the company’s stock worth $414,000 after buying an additional 13 shares during the period. BlackDiamond Wealth Management LLC raised its stake in GE Vernova by 2.8% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 471 shares of the company’s stock valued at $308,000 after acquiring an additional 13 shares in the last quarter. Voisard Asset Management Group Inc. boosted its position in GE Vernova by 2.7% during the 4th quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company’s stock worth $376,000 after acquiring an additional 15 shares during the period. Clean Yield Group grew its stake in shares of GE Vernova by 2.2% in the fourth quarter. Clean Yield Group now owns 685 shares of the company’s stock worth $448,000 after purchasing an additional 15 shares in the last quarter. Finally, Rossmore Private Capital increased its holdings in shares of GE Vernova by 2.8% during the fourth quarter. Rossmore Private Capital now owns 559 shares of the company’s stock valued at $365,000 after purchasing an additional 15 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.