GE Vernova (NYSE:GEV) Shares Up 5.4% – What’s Next?

GE Vernova Inc. (NYSE:GEV)’s share price rose 5.4% during mid-day trading on Monday . The company traded as high as $1,111.73 and last traded at $1,101.1070. 3,123,970 shares traded hands during mid-day trading, an increase of 11% from the average session volume of 2,803,993 shares. The stock had previously closed at $1,045.17.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Robert W. Baird increased their price objective on GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. The Goldman Sachs Group reissued a “buy” rating and issued a $1,328.00 price target on shares of GE Vernova in a report on Friday, April 24th. BMO Capital Markets upped their price objective on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Guggenheim lifted their target price on shares of GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Finally, Zacks Research cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,089.88.

GE Vernova Trading Up 5.4%

The firm has a market cap of $295.89 billion, a PE ratio of 32.07, a price-to-earnings-growth ratio of 3.87 and a beta of 1.24. The company has a 50-day simple moving average of $1,031.16 and a 200 day simple moving average of $865.68. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the previous year, the business posted $0.91 EPS. The business’s revenue was up 17.0% compared to the same quarter last year. As a group, sell-side analysts forecast that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova’s dividend payout ratio is presently 5.83%.

Insider Transactions at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the firm’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 in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On GE Vernova

Institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Financial Management LLC purchased a new stake in shares of GE Vernova during the fourth quarter worth about $25,000. Wealth Watch Advisors INC purchased a new position in shares of GE Vernova in the third quarter valued at approximately $25,000. Torren Management LLC acquired a new stake in shares of GE Vernova in the fourth quarter worth approximately $26,000. Manning & Napier Advisors LLC increased its position in shares of GE Vernova by 68.4% during the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after purchasing an additional 13 shares in the last quarter. Finally, ORG Wealth Partners LLC raised its stake in 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 purchasing an additional 29 shares during 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.