GE Vernova (NYSE:GEV) Stock Price Up 1.1% – Here’s What Happened

GE Vernova Inc. (NYSE:GEV)’s share price traded up 1.1% during trading on Monday . The company traded as high as $1,098.90 and last traded at $1,074.2750. 1,909,004 shares changed hands during trading, a decline of 32% from the average session volume of 2,789,921 shares. The stock had previously closed at $1,062.95.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of GE Vernova from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Erste Group Bank upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Tuesday, March 24th. Argus set a $1,300.00 price objective on shares of GE Vernova in a research report on Monday, April 27th. Weiss Ratings raised GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Finally, JPMorgan Chase & Co. increased their target price on GE Vernova from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,090.76.

GE Vernova Stock Performance

The stock’s fifty day simple moving average is $919.40 and its 200-day simple moving average is $745.60. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $288.68 billion, a PE ratio of 31.29, a PEG ratio of 3.98 and a beta of 1.51.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping the consensus estimate of $1.95 by $15.49. The business had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.91 EPS. On average, research analysts predict that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th were 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 was Tuesday, March 17th. GE Vernova’s payout ratio is presently 5.83%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GEV. Onyx Bridge Wealth Group LLC boosted its position in shares of GE Vernova by 1.3% in the 1st quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company’s stock worth $635,000 after buying an additional 9 shares in the last quarter. Red Door Wealth Management LLC increased its holdings in GE Vernova by 0.6% during the 1st quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company’s stock valued at $1,548,000 after acquiring an additional 10 shares in the last quarter. Advance Capital Management Inc. raised its position in GE Vernova by 2.2% during the first quarter. Advance Capital Management Inc. now owns 461 shares of the company’s stock worth $402,000 after acquiring an additional 10 shares during the last quarter. Bell Investment Advisors Inc raised its position in GE Vernova by 5.2% during the first quarter. Bell Investment Advisors Inc now owns 221 shares of the company’s stock worth $193,000 after acquiring an additional 11 shares during the last quarter. Finally, Sky Investment Group LLC lifted its holdings in shares of GE Vernova by 0.5% in the first quarter. Sky Investment Group LLC now owns 2,405 shares of the company’s stock valued at $2,099,000 after purchasing an additional 12 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.