GE Vernova (NYSE:GEV) Stock Price Up 2.7% – What’s Next?

GE Vernova Inc. (NYSE:GEV)’s stock price rose 2.7% during trading on Wednesday . The stock traded as high as $1,053.00 and last traded at $1,039.43. Approximately 1,480,229 shares were traded during mid-day trading, a decline of 47% from the average session volume of 2,778,412 shares. The stock had previously closed at $1,011.88.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GEV. Guggenheim lifted their price objective on GE Vernova from $1,300.00 to $1,450.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada raised their target price on GE Vernova from $1,195.00 to $1,225.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Argus set a $1,300.00 price target on GE Vernova in a research report on Monday, April 27th. TD Cowen boosted their price target on GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Finally, Mizuho upped their price objective on GE Vernova from $913.00 to $949.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,133.15.

GE Vernova Stock Up 2.7%

The company has a market cap of $276.84 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 3.53 and a beta of 1.21. The business has a fifty day moving average of $1,028.19 and a two-hundred day moving average of $951.59. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The business had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.86 earnings per share. As a group, equities analysts anticipate that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio is currently 5.72%.

Insider Buying and Selling at GE Vernova

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction dated Thursday, May 14th. The shares were 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 $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $1,739,726.80. This represents a 72.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On GE Vernova

Several large investors have recently bought and sold shares of GEV. WealthShield Partners LLC raised its holdings in shares of GE Vernova by 8.6% during the second quarter. WealthShield Partners LLC now owns 5,194 shares of the company’s stock valued at $6,105,000 after acquiring an additional 412 shares during the last quarter. W1M Asset Management Ltd boosted its stake in shares of GE Vernova by 0.9% in the second quarter. W1M Asset Management Ltd now owns 465,513 shares of the company’s stock worth $546,556,000 after acquiring an additional 4,342 shares during the last quarter. Madison Wealth Partners Inc increased its position in shares of GE Vernova by 29.0% during the second quarter. Madison Wealth Partners Inc now owns 667 shares of the company’s stock worth $783,000 after purchasing an additional 150 shares in the last quarter. George Kaiser Family Foundation purchased a new stake in shares of GE Vernova during the second quarter worth approximately $442,000. Finally, Sumitomo Life Insurance Co. raised its stake in GE Vernova by 6.9% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 14,142 shares of the company’s stock valued at $16,615,000 after purchasing an additional 907 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.