GE Vernova (NYSE:GEV) Trading Up 1.8% – Still a Buy?

GE Vernova Inc. (NYSE:GEV)’s stock price shot up 1.8% during mid-day trading on Monday . The stock traded as high as $1,099.66 and last traded at $1,082.30. Approximately 2,025,064 shares were traded during trading, a decline of 27% from the average session volume of 2,760,125 shares. The stock had previously closed at $1,063.25.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GEV shares. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research report on Monday, August 3rd. The Goldman Sachs Group reiterated a “buy” rating and set a $1,328.00 price target on shares of GE Vernova in a research report on Friday, April 24th. TD Cowen boosted their price target on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Susquehanna set a $1,300.00 price objective on shares of GE Vernova in a report on Thursday, April 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of GE Vernova in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $1,133.15.

GE Vernova Stock Performance

The firm has a market cap of $288.25 billion, a P/E ratio of 30.98, a PEG ratio of 3.79 and a beta of 1.21. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. The stock’s 50-day moving average is $1,034.05 and its 200 day moving average is $959.81.

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

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th were given a $0.50 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s payout ratio is currently 5.72%.

Insider Activity

In related news, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.21% of the company’s stock.

Institutional Trading of GE Vernova

Hedge funds have recently bought and sold shares of the stock. Perennial Investment Advisors LLC bought a new position in GE Vernova in the second quarter valued at approximately $1,933,000. Pingora Partners LLC bought a new stake in shares of GE Vernova during the second quarter worth $36,000. Ausdal Financial Partners Inc. bought a new stake in shares of GE Vernova during the second quarter worth $3,884,000. Bank of America Corp DE acquired a new stake in shares of GE Vernova during the second quarter worth $2,961,612,000. Finally, Birmingham Capital Management Co. Inc. AL acquired a new stake in shares of GE Vernova during the second quarter worth $2,495,000.

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.