GE Vernova (NYSE:GEV) Shares Up 4.3% – Time to Buy?

GE Vernova Inc. (NYSE:GEV)’s stock price was up 4.3% during mid-day trading on Monday . The stock traded as high as $583.00 and last traded at $579.70. Approximately 2,722,386 shares traded hands during trading, a decline of 20% from the average daily volume of 3,402,637 shares. The stock had previously closed at $555.84.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of analyst reports. UBS Group set a $710.00 price target on GE Vernova in a report on Thursday, October 23rd. HSBC raised their target price on GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research note on Friday, September 5th. Redburn Partners set a $475.00 target price on GE Vernova in a report on Wednesday, October 15th. Wells Fargo & Company upped their price target on GE Vernova from $697.00 to $717.00 and gave the company an “overweight” rating in a research report on Friday, October 24th. Finally, Guggenheim lowered shares of GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $607.81.

GE Vernova Stock Performance

The business has a 50 day simple moving average of $594.55 and a two-hundred day simple moving average of $565.87. The firm has a market capitalization of $157.28 billion, a P/E ratio of 94.41, a price-to-earnings-growth ratio of 4.13 and a beta of 1.69.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). The business had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

Insider Buying and Selling at GE Vernova

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of GE Vernova by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock valued at $15,259,028,000 after purchasing an additional 150,892 shares during the last quarter. State Street Corp boosted its stake in GE Vernova by 1.3% in the third quarter. State Street Corp now owns 11,238,278 shares of the company’s stock worth $6,910,417,000 after buying an additional 140,500 shares in the last quarter. Geode Capital Management LLC grew its position in GE Vernova by 2.2% during the second quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock valued at $3,221,404,000 after acquiring an additional 129,315 shares during the last quarter. Norges Bank purchased a new position in shares of GE Vernova during the second quarter worth approximately $1,809,220,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of GE Vernova by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock worth $955,513,000 after acquiring an additional 214,483 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.