GE Vernova (NYSE:GEV) Shares Up 1.4% – Still a Buy?

GE Vernova Inc. (NYSE:GEV) shares rose 1.4% during mid-day trading on Monday . The company traded as high as $1,142.00 and last traded at $1,125.6220. Approximately 3,908,335 shares were traded during mid-day trading, an increase of 40% from the average daily volume of 2,783,568 shares. The stock had previously closed at $1,109.73.

Wall Street Analyst Weigh In

GEV has been the topic of several recent analyst reports. Guggenheim boosted their target price on shares of GE Vernova from $910.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Oppenheimer set a $1,303.00 price target on shares of GE Vernova in a report on Thursday, April 23rd. Wells Fargo & Company lifted their price target on shares of GE Vernova from $831.00 to $896.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Morgan Stanley upped their price objective on GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. Finally, Royal Bank Of Canada increased their price objective on GE Vernova from $996.00 to $1,195.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,089.88.

GE Vernova Trading Up 1.4%

The company has a market cap of $302.48 billion, a PE ratio of 32.79, a price-to-earnings-growth ratio of 4.11 and a beta of 1.24. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The business has a 50-day simple moving average of $1,022.78 and a 200-day simple moving average of $849.76.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $15.49. The business had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company’s revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 earnings per share. On average, analysts predict that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova’s dividend payout ratio is currently 5.83%.

Insider Buying and Selling

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the transaction, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On GE Vernova

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC boosted its holdings in GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after purchasing an additional 753 shares in the last quarter. Schnieders Capital Management LLC. raised its holdings in GE Vernova by 1.7% during the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock worth $828,000 after purchasing an additional 26 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of GE Vernova during the 2nd quarter worth approximately $258,000. Ossiam acquired a new position in shares of GE Vernova in the 2nd quarter valued at $42,000. Finally, Nebula Research & Development LLC boosted its holdings in shares of GE Vernova by 23.9% in the 2nd quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock valued at $886,000 after buying an additional 323 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.