GE Vernova (NYSE:GEV) Trading Up 3.7% – What’s Next?

GE Vernova Inc. (NYSE:GEV) was up 3.7% during mid-day trading on Friday . The stock traded as high as $943.68 and last traded at $940.1420. Approximately 2,730,808 shares were traded during trading, a decline of 0% from the average daily volume of 2,742,634 shares. The stock had previously closed at $906.79.

Analysts Set New Price Targets

Several analysts have issued reports on GEV shares. Barclays boosted their price objective on GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Argus set a $1,300.00 price objective on GE Vernova in a report on Monday, April 27th. Robert W. Baird boosted their price objective on GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Zacks Research downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, Jefferies Financial Group cut their price objective on GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating on the stock in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $1,085.16.

GE Vernova Stock Up 3.7%

The company has a market cap of $252.63 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 3.49 and a beta of 1.23. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. The business has a fifty day moving average price of $1,008.85 and a two-hundred day moving average price of $831.73.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $15.49. The company had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. On average, equities analysts predict that GE Vernova Inc. will post 14.99 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Insider Transactions at GE Vernova

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the transaction, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. This represents a 39.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the transaction, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GE Vernova

A number of hedge funds have recently added to or reduced their stakes in the company. Onyx Bridge Wealth Group LLC increased its holdings in GE Vernova by 1.3% in the first quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company’s stock worth $635,000 after buying an additional 9 shares during the last quarter. Red Door Wealth Management LLC increased its holdings in GE Vernova by 0.6% in the first quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company’s stock worth $1,548,000 after buying an additional 10 shares during the last quarter. Advance Capital Management Inc. increased its holdings in GE Vernova by 2.2% in the first quarter. Advance Capital Management Inc. now owns 461 shares of the company’s stock worth $402,000 after buying an additional 10 shares during the last quarter. Alpha Financial Partners LLC increased its holdings in GE Vernova by 2.0% in the first quarter. Alpha Financial Partners LLC now owns 514 shares of the company’s stock worth $449,000 after buying an additional 10 shares during the last quarter. Finally, Bell Investment Advisors Inc increased its holdings in GE Vernova by 5.2% in the first quarter. Bell Investment Advisors Inc now owns 221 shares of the company’s stock worth $193,000 after buying an additional 11 shares during 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.