GE Vernova (NYSE:GEV) Trading Up 9.3% – Still a Buy?

GE Vernova Inc. (NYSE:GEV)’s share price rose 9.3% during mid-day trading on Thursday . The company traded as high as $986.00 and last traded at $983.9460. Approximately 3,128,950 shares were traded during trading, an increase of 10% from the average session volume of 2,834,188 shares. The stock had previously closed at $900.28.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GEV shares. Barclays upped their price target on shares of GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Susquehanna set a $1,300.00 target price on GE Vernova in a report on Thursday, April 23rd. Sanford C. Bernstein upped their price target on GE Vernova from $1,206.00 to $1,298.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Mizuho increased their price objective on GE Vernova from $913.00 to $949.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Finally, Robert W. Baird boosted their target price on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $1,133.15.

GE Vernova Trading Up 0.8%

The business’s 50 day simple moving average is $1,028.05 and its 200 day simple moving average is $932.76. The stock has a market cap of $263.75 billion, a P/E ratio of 28.34, a PEG ratio of 3.53 and a beta of 1.09. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.86 EPS. On average, analysts expect that GE Vernova Inc. will post 15.46 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th were paid 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 was Tuesday, June 16th. GE Vernova’s dividend payout ratio is 5.72%.

Insider Buying and Selling

In other news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the sale, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This represents a 72.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction that occurred on 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 sale, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at $3,758,710.41. The trade was a 39.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

Institutional Trading of GE Vernova

A number of large investors have recently bought and sold shares of GEV. World Investment Advisors increased its position in shares of GE Vernova by 19.9% in the fourth quarter. World Investment Advisors now owns 13,497 shares of the company’s stock valued at $8,821,000 after acquiring an additional 2,241 shares during the last quarter. Merit Financial Group LLC raised its holdings in GE Vernova by 17.4% during the fourth quarter. Merit Financial Group LLC now owns 15,080 shares of the company’s stock worth $9,856,000 after acquiring an additional 2,230 shares in the last quarter. Vest Financial LLC boosted its position in GE Vernova by 56.7% during the fourth quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock valued at $43,260,000 after purchasing an additional 23,956 shares during the last quarter. Riverbend Wealth Management LLC acquired a new position in GE Vernova during the fourth quarter valued at approximately $567,000. Finally, RiverFront Investment Group LLC grew its stake in GE Vernova by 239.2% in the fourth quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock valued at $1,432,000 after purchasing an additional 1,545 shares in the last quarter.

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.