GE Vernova (NYSE:GEV) Sets New 1-Year High – Still a Buy?

GE Vernova Inc. (NYSE:GEV) shares reached a new 52-week high on Tuesday . The stock traded as high as $859.00 and last traded at $859.2450, with a volume of 471309 shares traded. The stock had previously closed at $831.70.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on shares of GE Vernova from $840.00 to $925.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. BMO Capital Markets restated an “outperform” rating and issued a $785.00 price target on shares of GE Vernova in a report on Thursday, January 29th. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price objective on the stock in a report on Friday, January 30th. China Renaissance raised GE Vernova to a “strong-buy” rating in a research note on Thursday, January 29th. Finally, Wells Fargo & Company lifted their price target on shares of GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Stock Performance

The stock has a market cap of $233.52 billion, a price-to-earnings ratio of 48.70, a P/E/G ratio of 3.30 and a beta of 1.67. The business has a 50-day simple moving average of $707.95 and a two-hundred day simple moving average of $642.37.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $10.40. The firm had revenue of $10.96 billion for the quarter, compared to analyst estimates of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.73 EPS. On average, analysts expect that GE Vernova Inc. will post 6.59 earnings per share 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 issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova’s dividend payout ratio is presently 11.24%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Norges Bank bought a new stake in GE Vernova in the fourth quarter valued at approximately $2,283,114,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of GE Vernova by 5,171.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock worth $1,603,114,000 after acquiring an additional 2,406,326 shares during the last quarter. Capital World Investors increased its holdings in shares of GE Vernova by 1,907.5% during the 3rd quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock worth $1,325,842,000 after acquiring an additional 2,048,792 shares during the last quarter. Corient Private Wealth LLC raised its stake in GE Vernova by 2,802.8% in the 4th quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company’s stock valued at $1,051,407,000 after acquiring an additional 1,553,295 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in 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 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.