GE Vernova (NYSE:GEV) Trading Up 2.3% – Time to Buy?

GE Vernova Inc. (NYSE:GEV) rose 2.3% during trading on Wednesday . The stock traded as high as $1,125.43 and last traded at $1,120.6040. Approximately 2,266,665 shares changed hands during mid-day trading, a decline of 18% from the average daily volume of 2,775,646 shares. The stock had previously closed at $1,095.21.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GEV shares. TD Cowen lifted their price target on GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. The Goldman Sachs Group reissued a “buy” rating and issued a $1,328.00 price objective on shares of GE Vernova in a report on Friday, April 24th. Guggenheim raised their target price on GE Vernova from $910.00 to $1,300.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Argus set a $1,300.00 target price on GE Vernova in a research note on Monday, April 27th. Finally, JPMorgan Chase & Co. boosted their price target on GE Vernova from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,090.76.

GE Vernova Stock Down 0.5%

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The company has a market cap of $279.67 billion, a P/E ratio of 30.32, a P/E/G ratio of 3.92 and a beta of 1.51. The stock has a 50 day moving average price of $933.83 and a 200 day moving average price of $755.75.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period in the previous year, the company earned $0.91 earnings per share. GE Vernova’s revenue was up 17.0% compared to the same quarter last year. Research analysts expect that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s payout ratio is currently 5.83%.

Institutional Trading of GE Vernova

Several institutional investors and hedge funds have recently added to or reduced their stakes in GEV. PNC Financial Services Group Inc. increased its holdings in shares of GE Vernova by 2.1% in the first quarter. PNC Financial Services Group Inc. now owns 343,862 shares of the company’s stock valued at $300,157,000 after buying an additional 7,021 shares in the last quarter. Oslo Pensjonsforsikring AS acquired a new stake in shares of GE Vernova during the 1st quarter valued at $707,000. HORAN Wealth LLC boosted its stake in shares of GE Vernova by 0.6% during the 1st quarter. HORAN Wealth LLC now owns 2,421 shares of the company’s stock worth $2,113,000 after acquiring an additional 15 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new position in shares of GE Vernova in the 1st quarter worth $658,000. Finally, Andra AP fonden grew its holdings in shares of GE Vernova by 81.9% in the 1st quarter. Andra AP fonden now owns 19,448 shares of the company’s stock worth $16,976,000 after acquiring an additional 8,759 shares during 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.