GE Vernova (NYSE:GEV) Trading Up 4.6% – Still a Buy?

Shares of GE Vernova Inc. (NYSE:GEV) shot up 4.6% during mid-day trading on Friday . The stock traded as high as $576.89 and last traded at $575.6120. 2,811,906 shares traded hands during trading, a decline of 17% from the average session volume of 3,399,317 shares. The stock had previously closed at $550.17.

Analyst Ratings Changes

GEV has been the topic of several recent research reports. Bank of America increased their price objective on GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Melius raised shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target on the stock in a research note on Monday, September 15th. Robert W. Baird upped their price objective on shares of GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Wall Street Zen cut shares of GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, HSBC raised their price objective on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research note on Friday, September 5th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $607.81.

GE Vernova Trading Up 4.6%

The business has a fifty day moving average of $602.58 and a 200-day moving average of $549.85. The company has a market cap of $156.18 billion, a PE ratio of 93.75, a P/E/G ratio of 4.28 and a beta of 1.68.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the prior year, the business posted ($0.35) earnings per share. GE Vernova’s quarterly revenue was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is presently 16.29%.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the sale, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.15% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GE Vernova

Hedge funds have recently made changes to their positions in the company. Sachetta LLC increased its stake in shares of GE Vernova by 10.7% in the 2nd quarter. Sachetta LLC now owns 165 shares of the company’s stock worth $87,000 after acquiring an additional 16 shares in the last quarter. Good Life Advisors LLC grew its holdings in GE Vernova by 1.0% in the second quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock worth $875,000 after purchasing an additional 16 shares during the period. Bell Investment Advisors Inc increased its stake in shares of GE Vernova by 6.7% during the second quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock valued at $135,000 after purchasing an additional 16 shares in the last quarter. Northwest Wealth Management LLC lifted its holdings in shares of GE Vernova by 3.6% during the third quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock valued at $286,000 after purchasing an additional 16 shares during the last quarter. Finally, AMG National Trust Bank boosted its position in shares of GE Vernova by 1.5% in the 2nd quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock worth $606,000 after purchasing an additional 17 shares in the last quarter.

GE Vernova Company Profile

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.