GE Vernova (NYSE:GEV) Stock Price Up 3.9% – Time to Buy?

GE Vernova Inc. (NYSE:GEV)’s share price traded up 3.9% during trading on Thursday . The stock traded as high as $658.69 and last traded at $638.26. 4,417,658 shares changed hands during trading, an increase of 29% from the average session volume of 3,432,124 shares. The stock had previously closed at $614.19.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GEV. Oppenheimer upgraded shares of GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 price objective on the stock in a research report on Wednesday, December 10th. Wolfe Research upgraded shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. Glj Research boosted their price objective on GE Vernova from $702.00 to $758.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Melius Research set a $740.00 target price on GE Vernova and gave the company a “buy” rating in a research report on Monday, September 15th. Finally, Morgan Stanley lifted their target price on GE Vernova from $710.00 to $822.00 and gave the company an “overweight” rating in a research note on Tuesday. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $690.56.

GE Vernova Stock Performance

The stock’s fifty day simple moving average is $600.06 and its two-hundred day simple moving average is $586.71. The company has a market capitalization of $173.17 billion, a price-to-earnings ratio of 103.95, a P/E/G ratio of 5.23 and a beta of 1.71.

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

GE Vernova Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be paid a dividend of $0.50 per share. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, January 5th. This represents a $2.00 annualized dividend and a yield of 0.3%. GE Vernova’s dividend payout ratio (DPR) is presently 16.29%.

Hedge Funds Weigh In On GE Vernova

Large investors have recently made changes to their positions in the company. Sachetta LLC lifted its position in GE Vernova by 10.7% during the 2nd quarter. Sachetta LLC now owns 165 shares of the company’s stock valued at $87,000 after purchasing an additional 16 shares during the period. Good Life Advisors LLC raised its stake in shares of GE Vernova by 1.0% during the second quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock worth $875,000 after buying an additional 16 shares during the last quarter. Bell Investment Advisors Inc lifted its holdings in GE Vernova by 6.7% in the second quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock valued at $135,000 after buying an additional 16 shares during the period. Northwest Wealth Management LLC boosted its stake in GE Vernova by 3.6% in the third quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock valued at $286,000 after acquiring an additional 16 shares during the last quarter. Finally, AMG National Trust Bank grew its holdings in GE Vernova by 1.5% during the 2nd quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock worth $606,000 after acquiring an additional 17 shares during the period.

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.