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

GE Vernova Inc. (NYSE:GEV) shares shot up 1.5% during mid-day trading on Wednesday . The stock traded as high as $880.21 and last traded at $856.8050. 2,184,839 shares traded hands during trading, a decline of 24% from the average session volume of 2,869,762 shares. The stock had previously closed at $844.05.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Oppenheimer restated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 29th. Morgan Stanley restated an “overweight” rating and set a $817.00 target price on shares of GE Vernova in a research report on Monday, January 26th. Bank of America upped their price target on shares of GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Wolfe Research raised shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. Finally, William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $831.29.

GE Vernova Trading Up 1.5%

The company has a market cap of $230.93 billion, a price-to-earnings ratio of 48.14, a PEG ratio of 3.29 and a beta of 1.44. The business has a fifty day moving average of $765.97 and a two-hundred day moving average of $667.09.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 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 during the quarter, compared to the consensus estimate of $10.21 billion. During the same quarter in the prior year, the firm earned $1.73 EPS. GE Vernova’s quarterly revenue was up 3.8% on a year-over-year basis. On average, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, March 17th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s payout ratio is presently 11.24%.

Institutional Trading of GE Vernova

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jackson Grant Investment Advisers Inc. boosted its position in GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares in the last quarter. Cornerstone Financial Management LLC purchased a new position in shares of GE Vernova in the 4th quarter valued at $25,000. Wealth Watch Advisors INC purchased a new position in GE Vernova in the 3rd quarter worth approximately $25,000. Torren Management LLC purchased a new position in GE Vernova in the 4th quarter valued at about $26,000. Finally, ORG Wealth Partners LLC grew its position in shares of GE Vernova by 241.7% during the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after buying an additional 29 shares in 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.