GE Vernova (NYSE:GEV) Reaches New 52-Week High – What’s Next?

GE Vernova Inc. (NYSE:GEV)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $451.37 and last traded at $449.36, with a volume of 2745624 shares changing hands. The stock had previously closed at $446.60.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GEV shares. Robert W. Baird raised their price target on shares of GE Vernova from $387.00 to $405.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Jefferies Financial Group raised their target price on GE Vernova from $391.00 to $413.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Baird R W raised GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group increased their price target on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Six research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $374.62.

GE Vernova Price Performance

The firm has a market cap of $125.13 billion and a PE ratio of 82.46. The business has a fifty day moving average price of $355.31 and a two-hundred day moving average price of $349.52.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted ($0.47) earnings per share. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.22%. The ex-dividend date was Thursday, April 17th. GE Vernova’s dividend payout ratio is currently 14.41%.

Hedge Funds Weigh In On GE Vernova

A number of hedge funds have recently modified their holdings of the stock. MRP Capital Investments LLC purchased a new position in GE Vernova in the fourth quarter valued at about $25,000. Cedar Mountain Advisors LLC lifted its holdings in shares of GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares during the last quarter. Fairway Wealth LLC increased its holdings in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after buying an additional 55 shares during the last quarter. Pineridge Advisors LLC raised its position in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares in the last quarter. Finally, Navigoe LLC bought a new stake in GE Vernova in the fourth quarter worth approximately $27,000.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.