GE Vernova (NYSE:GEV) Reaches New 12-Month High – Here’s Why

GE Vernova Inc. (NYSE:GEV) reached a new 52-week high on Tuesday . The company traded as high as $859.00 and last traded at $859.2450, with a volume of 471309 shares. The stock had previously closed at $831.70.

Analyst Ratings Changes

GEV has been the topic of a number of recent research reports. Morgan Stanley reissued an “overweight” rating and set a $817.00 target price on shares of GE Vernova in a research report on Monday, January 26th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. UBS Group reaffirmed a “buy” rating on shares of GE Vernova in a research report on Thursday, January 29th. Wall Street Zen upgraded GE Vernova from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Finally, Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 target price for the company in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $788.24.

GE Vernova Trading Down 1.2%

The company has a 50-day moving average of $716.98 and a 200-day moving average of $645.60. The firm has a market capitalization of $233.20 billion, a price-to-earnings ratio of 48.57, a price-to-earnings-growth ratio of 3.50 and a beta of 1.67.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating the consensus estimate of $2.99 by $10.40. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The firm had revenue of $10.96 billion during the quarter, compared to analyst estimates of $10.21 billion. During the same quarter in the previous year, the firm earned $1.73 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research 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 announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s payout ratio is presently 11.24%.

Institutional Trading of GE Vernova

Several hedge funds have recently made changes to their positions in the stock. RFG Advisory LLC lifted its position in GE Vernova by 2.1% in the 4th quarter. RFG Advisory LLC now owns 634 shares of the company’s stock valued at $414,000 after purchasing an additional 13 shares during the last quarter. BlackDiamond Wealth Management LLC boosted its position in shares of GE Vernova by 2.8% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 471 shares of the company’s stock worth $308,000 after buying an additional 13 shares during the period. First Commonwealth Financial Corp PA boosted its position in shares of GE Vernova by 3.5% during the fourth quarter. First Commonwealth Financial Corp PA now owns 380 shares of the company’s stock worth $248,000 after buying an additional 13 shares during the period. Apriem Advisors grew its holdings in GE Vernova by 0.7% in the 4th quarter. Apriem Advisors now owns 2,124 shares of the company’s stock worth $1,388,000 after buying an additional 14 shares in the last quarter. Finally, Voisard Asset Management Group Inc. increased its position in GE Vernova by 2.7% in the 4th quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company’s stock valued at $376,000 after acquiring an additional 15 shares during the period.

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.