GE Vernova Inc. (NYSE:GEV – Get Free Report)’s share price rose 2% during mid-day trading on Thursday . The stock traded as high as $1,046.88 and last traded at $1,045.4980. Approximately 1,610,408 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 2,711,538 shares. The stock had previously closed at $1,024.52.
Analyst Ratings Changes
A number of equities analysts have recently commented on GEV shares. Wells Fargo & Company raised their target price on shares of GE Vernova from $831.00 to $896.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. Evercore increased their price target on GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. BMO Capital Markets raised their price objective on GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Zacks Research cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Royal Bank Of Canada upped their target price on GE Vernova from $996.00 to $1,195.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,090.76.
Get Our Latest Stock Report on GEV
GE Vernova Trading Down 0.4%
GE Vernova (NYSE:GEV – Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same period last year, the business earned $0.91 EPS. The business’s revenue was up 17.0% on a year-over-year basis. On average, equities analysts forecast that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.
GE Vernova Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 5.83%.
Insider Activity
In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the transaction, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.21% of the company’s stock.
Institutional Investors Weigh In On GE Vernova
Hedge funds and other institutional investors have recently bought and sold shares of the business. Brighton Jones LLC grew its position in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after buying an additional 753 shares in the last quarter. Schnieders Capital Management LLC. boosted its stake in GE Vernova by 1.7% during the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after acquiring an additional 26 shares during the last quarter. Jump Financial LLC bought a new position in GE Vernova during the 2nd quarter valued at $258,000. Ossiam acquired a new position in GE Vernova during the 2nd quarter worth $42,000. Finally, Nebula Research & Development LLC grew its holdings in GE Vernova by 23.9% during the 2nd quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock worth $886,000 after acquiring an additional 323 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.
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