GE Vernova (NYSE:GEV) Trading 4% Higher – Still a Buy?

GE Vernova Inc. (NYSE:GEV) shares rose 4% on Wednesday . The company traded as high as $834.00 and last traded at $822.1130. Approximately 2,757,916 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 3,352,003 shares. The stock had previously closed at $790.79.

Analyst Ratings Changes

Several research firms have recently weighed in on GEV. William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Rothschild & Co Redburn set a $475.00 price target on shares of GE Vernova in a report on Wednesday, October 15th. China Renaissance raised GE Vernova to a “strong-buy” rating in a research report on Thursday, January 29th. Susquehanna lifted their target price on GE Vernova from $800.00 to $820.00 and gave the stock a “positive” rating in a research report on Thursday, January 29th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $785.00 price objective on shares of GE Vernova in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Price Performance

The stock’s 50-day moving average price is $678.26 and its 200 day moving average price is $631.83. The firm has a market cap of $221.58 billion, a P/E ratio of 46.19, a price-to-earnings-growth ratio of 3.19 and a beta of 1.67.

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

GE Vernova Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, January 5th were given a dividend of $0.50 per share. The ex-dividend date was Monday, January 5th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio is currently 11.24%.

Hedge Funds Weigh In On GE Vernova

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of GE Vernova by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock worth $16,354,691,000 after acquiring an additional 208,162 shares during the last quarter. State Street Corp raised its position in shares of GE Vernova by 1.3% in the 3rd quarter. State Street Corp now owns 11,238,278 shares of the company’s stock worth $6,910,417,000 after acquiring an additional 140,500 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of GE Vernova by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock valued at $4,074,039,000 after purchasing an additional 68,894 shares during the period. Norges Bank acquired a new position in GE Vernova in the fourth quarter valued at approximately $2,283,114,000. Finally, Northern Trust Corp boosted its stake in GE Vernova by 1.8% during the third quarter. Northern Trust Corp now owns 2,877,458 shares of the company’s stock worth $1,769,349,000 after acquiring an additional 51,738 shares in 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.