GE Vernova (NYSE:GEV) Shares Climb 1.2% – Should You Buy?

GE Vernova Inc. (NYSE:GEV) shares traded up 1.2% during trading on Thursday. The company traded as high as $842.00 and last traded at $818.25. 2,900,249 shares traded hands during mid-day trading, an increase of 4% from the average daily volume of 2,790,036 shares. The stock had previously closed at $808.24.

Key Stories Impacting GE Vernova

Here are a few of the latest stories about GEV:

• Positive Sentiment: J.P. Morgan maintained an “overweight” rating and a $1,000 price target, down from $1,035 but still indicating potential upside. The bank says GE Vernova could withstand slower AI spending, in part because only about 20% of its gas-turbine customers are data centers. Article: GE Vernova Could Withstand a Slowing AI Spending Boom, Says J.P. Morgan
• Negative Sentiment: Glj Research assigned GE Vernova a “sell” rating, adding a bearish analyst view. Article: GE Vernova Earns “Sell” Rating from Glj Research
• Negative Sentiment: A small modular nuclear reactor project in Ontario is facing construction delays and rising costs, raising execution and cost concerns. Article: GE Vernova’s Ontario Nuclear Plant Is Facing Delays And Rising Costs

Analysts Set New Price Targets

A number of brokerages have issued reports on GEV. BNP Paribas Exane lowered their target price on GE Vernova from $1,190.00 to $1,090.00 and set a “neutral” rating for the company in a report on Thursday, August 20th. BMO Capital Markets reissued an “outperform” rating and set a $1,200.00 price target on shares of GE Vernova in a research note on Thursday, October 29th. Susquehanna reduced their price target on GE Vernova from $1,270.00 to $1,250.00 and set a “positive” rating on the stock in a report on Thursday, October 29th. JPMorgan Chase & Co. lowered their price objective on GE Vernova from $1,035.00 to $1,000.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Argus dropped their price objective on shares of GE Vernova from $1,300.00 to $1,100.00 and set a “buy” rating for the company in a report on Tuesday, November 3rd. 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,143.03.

GE Vernova Trading Up 1.2%

The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. The company has a market cap of $216.57 billion, a P/E ratio of 21.47, a PEG ratio of 2.60 and a beta of 1.25. The firm’s 50 day moving average is $917.88 and its two-hundred day moving average is $946.85.

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

GE Vernova Announces Dividend

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

Hedge Funds Weigh In On GE Vernova

Hedge funds have recently made changes to their positions in the stock. Parvin Asset Management LLC acquired a new stake in GE Vernova during the 2nd quarter valued at approximately $32,000. Pingora Partners LLC bought a new position in GE Vernova during the 2nd quarter worth approximately $36,000. IMG Wealth Management Inc. acquired a new position in shares of GE Vernova in the 2nd quarter worth approximately $39,000. Miller Global Investments LLC boosted its stake in shares of GE Vernova by 63.6% in the 2nd quarter. Miller Global Investments LLC now owns 36 shares of the company’s stock valued at $42,000 after purchasing an additional 14 shares during the last quarter. Finally, Burk Holdings LLC boosted its stake in shares of GE Vernova by 50.0% in the 2nd quarter. Burk Holdings LLC now owns 36 shares of the company’s stock valued at $42,000 after purchasing an additional 12 shares during the last quarter.

About GE Vernova

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.