GE Vernova (NYSE:GEV) Stock Price Up 4.5% – What’s Next?

GE Vernova Inc. (NYSE:GEV)’s stock price traded up 4.5% during trading on Thursday . The stock traded as high as $639.14 and last traded at $628.84. 3,690,432 shares changed hands during trading, an increase of 9% from the average session volume of 3,374,578 shares. The stock had previously closed at $601.97.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. TD Cowen decreased their target price on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. BMO Capital Markets upped their price target on GE Vernova from $690.00 to $710.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Rothschild Redb lowered GE Vernova from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Glj Research lifted their price objective on GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $654.00 target price on shares of GE Vernova in a research note on Monday, October 27th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $616.08.

GE Vernova Price Performance

The firm has a 50-day moving average of $589.68 and a 200 day moving average of $573.07. The company has a market capitalization of $170.62 billion, a PE ratio of 102.42, a PEG ratio of 4.47 and a beta of 1.71.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). The company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. GE Vernova’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.35) EPS. Equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, October 20th were issued a $0.25 dividend. The ex-dividend date was Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 16.29%.

Institutional Investors Weigh In On GE Vernova

A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of GE Vernova in the second quarter worth $1,809,220,000. Capital World Investors boosted its position in GE Vernova by 1,907.5% in the third quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock worth $1,325,842,000 after purchasing an additional 2,048,792 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of GE Vernova by 273.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock valued at $798,126,000 after purchasing an additional 1,104,747 shares during the period. AQR Capital Management LLC increased its position in shares of GE Vernova by 252.9% during the 1st quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock valued at $366,016,000 after purchasing an additional 892,549 shares during the last quarter. Finally, Amundi increased its position in shares of GE Vernova by 109.0% during the 1st quarter. Amundi now owns 1,665,980 shares of the company’s stock valued at $496,013,000 after purchasing an additional 868,927 shares during the last quarter.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.