GE Vernova (NYSE:GEV) Shares Up 2% – Here’s What Happened

GE Vernova Inc. (NYSE:GEV)’s share price rose 2% during mid-day trading on Thursday . The stock traded as high as $837.40 and last traded at $833.5420. Approximately 1,638,597 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 3,161,412 shares. The stock had previously closed at $817.55.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of research reports. Barclays reiterated an “overweight” rating and set a $849.00 target price on shares of GE Vernova in a research report on Monday, February 2nd. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Citigroup lifted their target price on shares of GE Vernova from $708.00 to $779.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. UBS Group reaffirmed a “buy” rating on shares of GE Vernova in a research note on Thursday, January 29th. Finally, Royal Bank Of Canada upped their price objective on shares of GE Vernova from $761.00 to $800.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Stock Up 2.0%

The company has a market capitalization of $224.66 billion, a P/E ratio of 46.83, a price-to-earnings-growth ratio of 3.26 and a beta of 1.67. The business’s 50-day moving average price is $699.24 and its 200 day moving average price is $638.78.

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

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova’s dividend payout ratio (DPR) is 11.24%.

Institutional Trading of GE Vernova

Institutional investors have recently made changes to their positions in the stock. Jackson Grant Investment Advisers Inc. boosted its stake in shares of GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares in the last quarter. Cornerstone Financial Management LLC purchased a new position in shares of GE Vernova during the 4th quarter worth approximately $25,000. Wealth Watch Advisors INC bought a new position in shares of GE Vernova in the 3rd quarter worth approximately $25,000. Torren Management LLC purchased a new position in shares of GE Vernova in the 4th quarter valued at approximately $26,000. Finally, ORG Wealth Partners LLC boosted 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 valued at $27,000 after purchasing an additional 29 shares in the last quarter.

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.