GE Vernova (NYSE:GEV) Shares Up 1.9% – Time to Buy?

GE Vernova Inc. (NYSE:GEV) shot up 1.9% during mid-day trading on Tuesday . The company traded as high as $659.17 and last traded at $651.6370. 2,065,259 shares were traded during trading, a decline of 27% from the average session volume of 2,823,397 shares. The stock had previously closed at $639.77.

Analysts Set New Price Targets

GEV has been the topic of a number of recent research reports. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 10th. UBS Group lifted their price target on GE Vernova from $760.00 to $835.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Citigroup boosted their price target on GE Vernova from $658.00 to $708.00 and gave the company a “neutral” rating in a report on Monday. JPMorgan Chase & Co. restated an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Finally, Baird R W lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $703.04.

GE Vernova Price Performance

The firm has a fifty day simple moving average of $621.72 and a 200 day simple moving average of $608.79. The company has a market capitalization of $176.80 billion, a price-to-earnings ratio of 106.13, a price-to-earnings-growth ratio of 2.61 and a beta of 1.67.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same period in the previous year, the company earned ($0.35) earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. Research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be given a dividend of $0.50 per share. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, January 5th. GE Vernova’s dividend payout ratio (DPR) is currently 32.57%.

Institutional Trading of GE Vernova

Institutional investors have recently modified their holdings of the stock. Brighton Jones LLC grew its position in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after purchasing an additional 753 shares in the last quarter. Modern Wealth Management LLC boosted its stake in GE Vernova by 33.1% during the first quarter. Modern Wealth Management LLC now owns 2,296 shares of the company’s stock worth $701,000 after buying an additional 571 shares during the last quarter. First Hawaiian Bank acquired a new position in GE Vernova during the first quarter worth $341,000. Kera Capital Partners Inc. purchased a new stake in GE Vernova in the 2nd quarter valued at $264,000. Finally, HBW Advisory Services LLC grew its holdings in GE Vernova by 12.0% in the 2nd quarter. HBW Advisory Services LLC now owns 907 shares of the company’s stock valued at $480,000 after buying an additional 97 shares in 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.