GE Vernova (NYSE:GEV) Stock Price Up 0% – Here’s What Happened

GE Vernova Inc. (NYSE:GEV) rose 0% during trading on Tuesday . The company traded as high as $448.45 and last traded at $446.76. Approximately 622,466 shares changed hands during trading, a decline of 81% from the average daily volume of 3,309,113 shares. The stock had previously closed at $446.60.

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of research reports. CICC Research started coverage on GE Vernova in a research note on Wednesday, February 19th. They issued an “outperform” rating on the stock. New Street Research set a $380.00 target price on GE Vernova in a report on Wednesday, March 5th. Susquehanna reaffirmed a “positive” rating and set a $499.00 price objective (up from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Jefferies Financial Group raised their price target on GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Finally, Barclays decreased their price objective on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Six equities 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $374.62.

GE Vernova Trading Up 0.5%

The company has a market capitalization of $122.48 billion and a P/E ratio of 80.62. The firm’s 50 day moving average price is $347.00 and its two-hundred day moving average price is $346.95.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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 return on equity of 6.70% and a net margin of 4.44%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.47) earnings per share. Analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova’s dividend payout ratio (DPR) is presently 14.41%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in GE Vernova during the 4th quarter worth about $1,109,720,000. Capital International Investors lifted its holdings in GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock valued at $4,886,164,000 after buying an additional 2,994,660 shares during the period. GAMMA Investing LLC grew its holdings in GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company’s stock worth $653,769,000 after acquiring an additional 2,135,066 shares during the period. Massachusetts Financial Services Co. MA grew its stake in GE Vernova by 1,638.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock worth $432,309,000 after purchasing an additional 1,238,690 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of GE Vernova by 252.9% in the 1st quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock valued at $366,016,000 after acquiring an additional 892,549 shares in the last quarter.

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.