GE Vernova (NYSE:GEV) Hits New 12-Month High – Still a Buy?

GE Vernova Inc. (NYSE:GEV) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $822.00 and last traded at $823.6290, with a volume of 60307 shares traded. The stock had previously closed at $790.79.

Analyst Ratings Changes

Several research analysts have weighed in on GEV shares. Robert W. Baird set a $923.00 price objective on GE Vernova and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Barclays reiterated an “overweight” rating and issued a $849.00 price objective on shares of GE Vernova in a report on Monday, February 2nd. Susquehanna increased their target price on shares of GE Vernova from $800.00 to $820.00 and gave the company a “positive” rating in a research report on Thursday, January 29th. Citigroup upped their target price on GE Vernova from $708.00 to $779.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Finally, Weiss Ratings raised shares of GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $788.24.

GE Vernova Stock Down 1.4%

The firm has a market capitalization of $217.10 billion, a PE ratio of 45.84, a PEG ratio of 3.28 and a beta of 1.67. The company has a 50-day moving average of $686.41 and a 200 day moving average of $634.43.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. The business had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.73 earnings per share. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, January 5th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio (DPR) is currently 11.24%.

Hedge Funds Weigh In On GE Vernova

A number of institutional investors and hedge funds have recently modified their holdings of GEV. RFG Advisory LLC lifted its position in shares of GE Vernova by 2.1% in the fourth quarter. RFG Advisory LLC now owns 634 shares of the company’s stock valued at $414,000 after acquiring an additional 13 shares in the last quarter. BlackDiamond Wealth Management LLC raised its position in shares of GE Vernova by 2.8% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 471 shares of the company’s stock valued at $308,000 after buying an additional 13 shares in the last quarter. Voisard Asset Management Group Inc. lifted its holdings in shares of GE Vernova by 2.7% in the 4th quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company’s stock valued at $376,000 after acquiring an additional 15 shares during the last quarter. Clean Yield Group increased its stake in GE Vernova by 2.2% during the fourth quarter. Clean Yield Group now owns 685 shares of the company’s stock worth $448,000 after acquiring an additional 15 shares during the last quarter. Finally, Rossmore Private Capital raised its position in GE Vernova by 2.8% during the fourth quarter. Rossmore Private Capital now owns 559 shares of the company’s stock valued at $365,000 after purchasing an additional 15 shares during the period.

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.