GE Vernova (NYSE:GEV) Trading Up 2.4% – What’s Next?

GE Vernova Inc. (NYSE:GEV) rose 2.4% during trading on Tuesday . The company traded as high as $1,082.00 and last traded at $1,067.1640. 1,741,248 shares changed hands during trading, a decline of 37% from the average daily volume of 2,784,058 shares. The stock had previously closed at $1,042.60.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Susquehanna set a $1,300.00 target price on shares of GE Vernova in a research note on Thursday, April 23rd. Sanford C. Bernstein assumed coverage on shares of GE Vernova in a research report on Tuesday, June 16th. They set an “outperform” rating and a $1,206.00 price target on the stock. BNP Paribas Exane lowered shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target on the stock. in a research report on Monday, April 27th. JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Finally, Guggenheim upped their price objective on shares of GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,089.88.

GE Vernova Trading Down 1.2%

The firm has a market capitalization of $283.04 billion, a price-to-earnings ratio of 30.68, a P/E/G ratio of 3.93 and a beta of 1.09. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The company has a 50 day moving average price of $1,037.38 and a two-hundred day moving average price of $905.20.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $15.49. The firm had revenue of $9.34 billion for the quarter, compared to analysts’ expectations of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 EPS. On average, research analysts forecast that GE Vernova Inc. will post 15.06 EPS for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 16th. GE Vernova’s dividend payout ratio (DPR) is presently 5.83%.

Insider Activity

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the transaction, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. This represents a 39.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the transaction, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On GE Vernova

Several large investors have recently bought and sold shares of the company. Cornerstone Financial Management LLC purchased a new stake in shares of GE Vernova during the fourth quarter worth approximately $25,000. Wealth Watch Advisors INC purchased a new position in GE Vernova in the 3rd quarter valued at $25,000. Torren Management LLC acquired a new stake in GE Vernova during the 4th quarter worth $26,000. Manning & Napier Advisors LLC boosted its stake in GE Vernova by 68.4% during the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after purchasing an additional 13 shares during the last quarter. Finally, ORG Wealth Partners LLC grew its holdings 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 worth $27,000 after buying 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.