GE Vernova (NYSE:GEV) Trading Up 1.5% – What’s Next?

GE Vernova Inc. (NYSE:GEV)’s share price rose 1.5% on Tuesday . The company traded as high as $910.94 and last traded at $910.4110. Approximately 1,335,718 shares traded hands during trading, a decline of 53% from the average daily volume of 2,832,499 shares. The stock had previously closed at $897.36.

Wall Street Analyst Weigh In

GEV has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of GE Vernova from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Zacks Research upgraded shares of GE Vernova from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 30th. Wells Fargo & Company lifted their price objective on shares of GE Vernova from $831.00 to $896.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Guggenheim upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price objective on the stock in a research report on Friday, January 30th. Finally, Weiss Ratings upgraded shares of GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $863.61.

GE Vernova Stock Performance

The firm has a market capitalization of $245.38 billion, a price-to-earnings ratio of 51.15, a PEG ratio of 3.54 and a beta of 1.43. The firm has a fifty day moving average price of $828.08 and a 200 day moving average price of $693.59.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, topping the consensus estimate of $2.99 by $10.40. The company had revenue of $10.96 billion for the quarter, compared to analyst estimates of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.73 EPS. Research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be given 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 is Tuesday, March 17th. GE Vernova’s payout ratio is presently 11.24%.

Institutional Investors Weigh In On GE Vernova

Institutional investors have recently made changes to their positions in the stock. RFG Advisory LLC raised its holdings in GE Vernova by 2.1% during the fourth quarter. RFG Advisory LLC now owns 634 shares of the company’s stock worth $414,000 after purchasing an additional 13 shares during the last quarter. BlackDiamond Wealth Management LLC raised its holdings in GE Vernova by 2.8% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 471 shares of the company’s stock worth $308,000 after purchasing an additional 13 shares during the last quarter. First Commonwealth Financial Corp PA raised its holdings in GE Vernova by 3.5% during the fourth quarter. First Commonwealth Financial Corp PA now owns 380 shares of the company’s stock worth $248,000 after purchasing an additional 13 shares during the last quarter. Apriem Advisors raised its holdings in GE Vernova by 0.7% during the fourth quarter. Apriem Advisors now owns 2,124 shares of the company’s stock worth $1,388,000 after purchasing an additional 14 shares during the last quarter. Finally, Voisard Asset Management Group Inc. raised its holdings in GE Vernova by 2.7% during the fourth quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company’s stock worth $376,000 after purchasing an additional 15 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.