GE Vernova (NYSE:GEV) Stock Price Up 2% – Should You Buy?

Shares of GE Vernova Inc. (NYSE:GEV) rose 2% on Tuesday . The stock traded as high as $828.53 and last traded at $818.31. Approximately 2,215,733 shares were traded during trading, a decline of 32% from the average daily volume of 3,253,946 shares. The stock had previously closed at $802.13.

Analysts Set New Price Targets

GEV has been the subject of a number of research reports. Mizuho set a $714.00 target price on shares of GE Vernova in a report on Tuesday, February 3rd. Weiss Ratings upgraded shares of GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Wall Street Zen upgraded shares of GE Vernova from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. TD Cowen upped their price target on shares of GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Finally, Robert W. Baird set a $923.00 price target on GE Vernova and gave the company an “outperform” rating in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $788.24.

GE Vernova Stock Up 2.0%

The company has a market cap of $220.56 billion, a P/E ratio of 45.06, a PEG ratio of 3.19 and a beta of 1.67. The firm’s 50 day moving average is $693.45 and its two-hundred day moving average is $636.37.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $10.40. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The business had revenue of $10.96 billion during the quarter, compared to analyst estimates of $10.21 billion. During the same period last year, the company earned $1.73 EPS. GE Vernova’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Torren Management LLC acquired a new position in shares of GE Vernova during the fourth quarter valued at about $26,000. Cornerstone Financial Management LLC acquired a new stake in GE Vernova in the fourth quarter valued at approximately $25,000. Jackson Grant Investment Advisers Inc. grew its stake in GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares during the period. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova during the third quarter valued at approximately $25,000. Finally, ORG Wealth Partners LLC raised its position in shares of GE Vernova by 241.7% during the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after purchasing an additional 29 shares during the period.

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.