GE Vernova (NYSE:GEV) Stock Price Up 1.6% – What’s Next?

GE Vernova Inc. (NYSE:GEV) shares rose 1.6% on Wednesday. The stock traded as high as $845.00 and last traded at $809.5920. Approximately 3,665,896 shares traded hands during trading, an increase of 31% from the average session volume of 2,789,426 shares. The stock had previously closed at $797.04.

Key Stories Impacting GE Vernova

Here are a few of the latest stories about GEV:

• Positive Sentiment: J.P. Morgan said GE Vernova can withstand a slowdown in AI spending, supporting the view that its growth is not dependent on data-center demand alone. The bank maintained an “overweight” rating, though it lowered its price target to $1,000 from $1,035. GE Vernova Could Withstand a Slowing AI Spending Boom, Says J.P. Morgan
• Positive Sentiment: GE Vernova plans to invest $34.5 million to expand transformer manufacturing in Louisiana, positioning its electrification business to serve growing grid-equipment demand. GE Vernova to spend $34.5M expanding Louisiana transformer manufacturing capacity
• Negative Sentiment: SoftBank is reassessing plans for its Ohio data-center project, reviving concerns that changes to major AI infrastructure projects could weigh on expected turbine demand. GE Vernova shares slide after SoftBank revises US data center project plans

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GEV shares. JPMorgan Chase & Co. dropped their price target on GE Vernova from $1,035.00 to $1,000.00 and set an “overweight” rating on the stock in a research note on Wednesday. Susquehanna reduced their price objective on shares of GE Vernova from $1,270.00 to $1,250.00 and set a “positive” rating for the company in a research note on Thursday, October 29th. Wall Street Zen downgraded shares of GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Citigroup dropped their target price on shares of GE Vernova from $1,125.00 to $1,000.00 and set a “neutral” rating on the stock in a research report on Thursday, October 29th. Finally, BNP Paribas Exane cut their price target on shares of GE Vernova from $1,190.00 to $1,090.00 and set a “neutral” rating on the stock in a report on Thursday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,143.03.

GE Vernova Stock Up 1.6%

The business has a fifty day moving average price of $919.64 and a two-hundred day moving average price of $946.09. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.22. The company has a market cap of $214.28 billion, a price-to-earnings ratio of 21.24, a P/E/G ratio of 2.70 and a beta of 1.25.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $4.81 EPS for the quarter, topping the consensus estimate of $4.03 by $0.78. GE Vernova had a net margin of 23.54% and a return on equity of 46.50%. The business had revenue of $12.64 billion during the quarter, compared to analysts’ expectations of $11.99 billion. During the same period last year, the company posted $1.64 earnings per share. The firm’s quarterly revenue was up 26.8% compared to the same quarter last year. On average, equities analysts predict that GE Vernova Inc. will post 16.13 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, October 27th will be given a $0.50 dividend. The ex-dividend date is Tuesday, October 27th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio is presently 5.25%.

Hedge Funds Weigh In On GE Vernova

Several institutional investors and hedge funds have recently modified their holdings of GEV. Parvin Asset Management LLC purchased a new stake in shares of GE Vernova during the second quarter worth $32,000. Pingora Partners LLC acquired a new position in GE Vernova in the 2nd quarter worth about $36,000. Manning & Napier Advisors LLC increased its position in GE Vernova by 68.4% in the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after purchasing an additional 13 shares during the last quarter. IMG Wealth Management Inc. purchased a new stake in shares of GE Vernova during the 2nd quarter worth about $39,000. Finally, Miller Global Investments LLC raised its stake in shares of GE Vernova by 63.6% during the 2nd quarter. Miller Global Investments LLC now owns 36 shares of the company’s stock worth $42,000 after purchasing an additional 14 shares in the last quarter.

GE Vernova Company Profile

GE Vernova is an energy technology company that designs, manufactures and services equipment used to generate, transmit and distribute electricity. It became an independent public company in April 2024 after separating from General Electric, which had built its energy businesses over more than a century. The company operates through three main businesses: Power, Wind and Electrification. Its offerings include gas and steam turbines, hydropower technologies and related services; onshore and offshore wind turbines; and grid equipment, power-conversion systems and software used to support electricity networks.