GE Vernova (NYSE:GEV) Sets New 1-Year High – What’s Next?

Shares of GE Vernova Inc. (NYSE:GEV) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $959.37 and last traded at $956.0210, with a volume of 79250 shares. The stock had previously closed at $910.75.

Analyst Ratings Changes

A number of research firms have issued reports on GEV. UBS Group reiterated a “buy” rating on shares of GE Vernova in a report on Thursday, January 29th. BMO Capital Markets reiterated an “outperform” rating and set a $785.00 target price on shares of GE Vernova in a report on Thursday, January 29th. Mizuho set a $714.00 target price on GE Vernova in a report on Tuesday, February 3rd. Bank of America increased their target price on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Finally, Wall Street Zen upgraded GE Vernova from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $863.61.

GE Vernova Stock Performance

The company has a market cap of $253.93 billion, a P/E ratio of 53.25, a PEG ratio of 3.54 and a beta of 1.43. The company has a fifty day moving average price of $832.45 and a two-hundred day moving average price of $695.60.

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, beating the consensus estimate of $2.99 by $10.40. The company had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.GE Vernova’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.73 EPS. Research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is presently 11.24%.

Hedge Funds Weigh In On GE Vernova

Several hedge funds have recently modified their holdings of GEV. Jackson Grant Investment Advisers Inc. grew its holdings in shares of GE Vernova by 344.4% in the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares in the last quarter. Cornerstone Financial Management LLC bought a new position in shares of GE Vernova in the 4th quarter valued at about $25,000. Wealth Watch Advisors INC bought a new position in shares of GE Vernova in the 3rd quarter valued at about $25,000. Torren Management LLC bought a new position in shares of GE Vernova in the 4th quarter valued at about $26,000. Finally, ORG Wealth Partners LLC grew its holdings in shares of GE Vernova by 241.7% in the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after acquiring an additional 29 shares in 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.