GE Vernova (NYSE:GEV) Trading 7.4% Higher – Here’s Why

GE Vernova Inc. (NYSE:GEV)’s share price was up 7.4% during trading on Wednesday . The company traded as high as $600.00 and last traded at $596.1350. Approximately 3,893,099 shares traded hands during mid-day trading, an increase of 15% from the average daily volume of 3,391,279 shares. The stock had previously closed at $554.93.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of GE Vernova from $715.00 to $740.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Barclays boosted their price objective on shares of GE Vernova from $706.00 to $710.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Wall Street Zen cut shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Royal Bank Of Canada upped their target price on GE Vernova from $605.00 to $630.00 and gave the company a “sector perform” rating in a report on Thursday, October 23rd. Finally, Melius Research set a $740.00 price target on GE Vernova and gave the stock a “buy” rating in a research report on Monday, September 15th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $607.81.

GE Vernova Stock Up 7.4%

The firm has a market capitalization of $161.74 billion, a price-to-earnings ratio of 97.09, a P/E/G ratio of 4.29 and a beta of 1.68. The company has a 50-day moving average price of $599.38 and a 200-day moving average price of $561.03.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same quarter in the prior year, the business earned ($0.35) earnings per share. The firm’s 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, analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Insiders Place Their Bets

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 transaction, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.15% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC increased its position in shares of GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after purchasing an additional 753 shares during the period. Kestra Private Wealth Services LLC boosted its stake in GE Vernova by 33.1% during the first quarter. Kestra Private Wealth Services LLC now owns 7,515 shares of the company’s stock valued at $2,294,000 after buying an additional 1,867 shares in the last quarter. IFP Advisors Inc grew its holdings in GE Vernova by 5.8% during the first quarter. IFP Advisors Inc now owns 5,116 shares of the company’s stock worth $1,562,000 after acquiring an additional 281 shares during the period. GW&K Investment Management LLC raised its position in GE Vernova by 21.0% in the first quarter. GW&K Investment Management LLC now owns 213 shares of the company’s stock worth $65,000 after acquiring an additional 37 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its position in GE Vernova by 12.6% in the first quarter. Hazlett Burt & Watson Inc. now owns 588 shares of the company’s stock worth $178,000 after acquiring an additional 66 shares in the last quarter.

About GE Vernova

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.