GE Vernova (NYSE:GEV) Trading 2.8% Higher – What’s Next?

GE Vernova Inc. (NYSE:GEV) rose 2.8% during mid-day trading on Monday . The stock traded as high as $814.86 and last traded at $801.25. Approximately 3,074,129 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 3,391,996 shares. The stock had previously closed at $779.35.

Analyst Upgrades and Downgrades

GEV has been the topic of several analyst reports. Rothschild & Co Redburn set a $475.00 price objective on shares of GE Vernova in a report on Wednesday, October 15th. China Renaissance raised GE Vernova to a “strong-buy” rating in a research note on Thursday, January 29th. UBS Group reaffirmed a “buy” rating on shares of GE Vernova in a research note on Thursday, January 29th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of GE Vernova in a research note on Wednesday, December 10th. Finally, BMO Capital Markets restated an “outperform” rating and set a $785.00 target price on shares of GE Vernova in a report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Trading Up 2.8%

The company has a fifty day moving average price of $670.00 and a two-hundred day moving average price of $629.55. The firm has a market cap of $215.96 billion, a P/E ratio of 43.78, a PEG ratio of 3.10 and a beta of 1.67.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, topping the consensus estimate of $2.99 by $10.40. The firm had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the company posted $1.73 EPS. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, January 5th were issued a dividend of $0.50 per share. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio is currently 11.24%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GEV. Jackson Grant Investment Advisers Inc. raised its stake in GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after buying an additional 31 shares during the period. Wealth Watch Advisors INC acquired a new position in shares of GE Vernova during the 3rd quarter worth approximately $25,000. Torren Management LLC bought a new stake in GE Vernova in the 4th quarter valued at $26,000. ORG Wealth Partners LLC lifted its holdings in GE Vernova by 241.7% during the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after purchasing an additional 29 shares during the last quarter. Finally, Navalign LLC bought a new position in GE Vernova during the fourth quarter worth $27,000.

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.