GE Vernova (NYSE:GEV) Shares Climb 1.6% – Should You Buy?

Shares of GE Vernova Inc. (NYSE:GEV) were up 1.6% on Wednesday. The stock traded as high as $845.00 and last traded at $809.5920. Approximately 3,665,896 shares changed hands during mid-day trading, an increase of 31% from the average daily volume of 2,789,426 shares. The stock had previously closed at $797.04.

Key GE Vernova News

Here’s some of the latest news about GEV:

• Positive Sentiment: GE Vernova reported further validation of hydrogen-ready aeroderivative gas turbines designed to use significant amounts of hydrogen, a step toward lower-carbon power generation. The company’s broader investment case also benefits from rising electricity demand, strong orders and a growing backlog. Why Is GE Vernova Balancing Hydrogen Turbine Progress With A Nuclear Delay?
• Positive Sentiment: Evercore ISI maintained its Buy rating and $1,350 price target; a report said that target implied 67% upside from GEV’s Nov. 11 close. This may support investor confidence after the stock’s pullback, though it is an analyst forecast, not a guarantee. Evercore ISI Sticks to Their Buy Rating for GE Vernova
• Negative Sentiment: A Canadian small modular reactor project involving GE Vernova is facing construction delays and higher projected costs, raising execution and cost concerns. GE Vernova’s Ontario Nuclear Plant Is Facing Delays And Rising Costs

Analysts Set New Price Targets

Several research firms have commented on GEV. Mizuho upped their price objective on GE Vernova from $913.00 to $949.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Royal Bank Of Canada boosted their price target on GE Vernova from $1,225.00 to $1,230.00 and gave the stock an “outperform” rating in a research note on Thursday, October 29th. Citigroup dropped their target price on shares of GE Vernova from $1,125.00 to $1,000.00 and set a “neutral” rating for the company in a report on Thursday, October 29th. President Capital upped their price objective on GE Vernova from $1,368.00 to $1,398.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Finally, The Goldman Sachs Group upgraded shares of GE Vernova from a “buy” rating to a “market outperform” rating in a research report on Monday, September 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,143.03.

GE Vernova Stock Performance

The stock’s 50 day moving average price is $915.80 and its 200 day moving average price is $947.62. The firm has a market cap of $212.58 billion, a PE ratio of 21.07, a P/E/G ratio of 2.63 and a beta of 1.25. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.22.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, October 28th. The company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.03 by $0.78. The company had revenue of $12.64 billion during the quarter, compared to the consensus estimate of $11.99 billion. GE Vernova had a return on equity of 46.50% and a net margin of 23.54%. The company’s revenue was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.64 earnings per share. As a group, equities analysts forecast that GE Vernova Inc. will post 16.13 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, October 27th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, October 27th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 5.25%.

Institutional Trading of GE Vernova

Several institutional investors have recently added to or reduced their stakes in the stock. Hartree Partners LP acquired a new stake in GE Vernova during the third quarter valued at approximately $475,000. Coign Capital Advisors LLC raised its holdings in shares of GE Vernova by 6.0% during the third quarter. Coign Capital Advisors LLC now owns 515 shares of the company’s stock valued at $490,000 after buying an additional 29 shares during the last quarter. US Asset Management LLC raised its stake in shares of GE Vernova by 9.1% during the third quarter. US Asset Management LLC now owns 565 shares of the company’s stock valued at $537,000 after purchasing an additional 47 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of GE Vernova by 6.2% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 248,678 shares of the company’s stock worth $236,366,000 after buying an additional 14,471 shares in the last quarter. Finally, Insigneo Advisory Services LLC boosted its stake in GE Vernova by 21.4% during the 3rd quarter. Insigneo Advisory Services LLC now owns 3,989 shares of the company’s stock valued at $3,791,000 after purchasing an additional 702 shares in the last quarter.

GE Vernova Company Profile

GE Vernova is an energy technology company that designs, manufactures and services equipment used to generate, transmit and distribute electricity. It became an independent public company in April 2024 after separating from General Electric, which had built its energy businesses over more than a century. The company operates through three main businesses: Power, Wind and Electrification. Its offerings include gas and steam turbines, hydropower technologies and related services; onshore and offshore wind turbines; and grid equipment, power-conversion systems and software used to support electricity networks.