GE Vernova (NYSE:GEV) Shares Up 1.3% – Time to Buy?

GE Vernova Inc. (NYSE:GEV)’s share price was up 1.3% on Tuesday . The company traded as high as $1,046.93 and last traded at $1,019.6540. Approximately 2,171,154 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 2,820,911 shares. The stock had previously closed at $1,006.76.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GEV shares. Morgan Stanley lowered shares of GE Vernova from an “overweight” rating to an “underweight” rating in a report on Monday. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Monday. Guggenheim raised their target price on GE Vernova from $1,300.00 to $1,450.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. BNP Paribas Exane downgraded GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target for the company. in a report on Monday, April 27th. Finally, Argus set a $1,300.00 price target on GE Vernova in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,133.15.

GE Vernova Stock Performance

The company’s 50-day simple moving average is $1,026.14 and its 200 day simple moving average is $942.64. The stock has a market cap of $265.89 billion, a P/E ratio of 28.57, a PEG ratio of 3.63 and a beta of 1.21. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business’s revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.86 earnings per share. As a group, sell-side analysts expect that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was 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 5.72%.

Insiders Place Their Bets

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the sale, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the sale, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This trade represents a 72.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Cornerstone Financial Management LLC purchased a new position in GE Vernova in the fourth quarter valued at approximately $25,000. Wealth Watch Advisors INC purchased a new stake in GE Vernova in the third quarter worth $25,000. Torren Management LLC bought a new stake in shares of GE Vernova in the fourth quarter valued at $26,000. Manning & Napier Advisors LLC lifted its position in shares of GE Vernova by 68.4% during the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after buying an additional 13 shares during the last quarter. Finally, Navalign LLC bought a new position in shares of GE Vernova during the 4th quarter worth $27,000.

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.