GE Vernova (NYSE:GEV) Stock Price Up 3% – Still a Buy?

GE Vernova Inc. (NYSE:GEV) shares were up 3% during mid-day trading on Tuesday . The company traded as high as $974.20 and last traded at $970.55. 1,693,984 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 2,704,283 shares. The stock had previously closed at $941.95.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GEV. Morgan Stanley lowered GE Vernova from an “overweight” rating to an “underweight” rating in a report on Monday, August 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of GE Vernova in a research report on Tuesday, July 21st. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Monday, August 3rd. Mizuho lifted their target price on shares of GE Vernova from $913.00 to $949.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Finally, Wall Street Zen lowered shares of GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,155.28.

GE Vernova Price Performance

The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $258.49 billion, a P/E ratio of 27.78, a PEG ratio of 4.38 and a beta of 1.15. The business’s 50 day moving average is $1,013.77 and its 200-day moving average is $980.46.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. During the same period last year, the business earned $1.86 earnings per share. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. As a group, sell-side analysts predict that GE Vernova Inc. will post 15.36 EPS for the current fiscal year.

Institutional Investors Weigh In On GE Vernova

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cornerstone Financial Management LLC acquired a new stake in GE Vernova in the fourth quarter valued at approximately $25,000. Wealth Watch Advisors INC acquired a new position in shares of GE Vernova during the third quarter worth $25,000. Manning & Napier Advisors LLC lifted its stake in shares of GE Vernova by 68.4% in the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after acquiring an additional 13 shares during the last quarter. Navalign LLC bought a new position in shares of GE Vernova in the 4th quarter valued at $27,000. Finally, Commonwealth Retirement Investments LLC acquired a new stake in shares of GE Vernova during the 4th quarter valued at $30,000.

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.