GE Vernova Inc. (NYSE:GEV) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of GE Vernova Inc. (NYSE:GEV) have been assigned an average rating of “Moderate Buy” from the thirty ratings firms that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, twenty-three have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $1,133.1538.

Several brokerages recently commented on GEV. Guggenheim upped their price target on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank Of Canada lifted their price target on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the company an “outperform” rating in a report on Thursday. Barclays boosted their price objective on shares of GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Argus set a $1,300.00 target price on GE Vernova in a research report on Monday, April 27th. Finally, TD Cowen increased their target price on GE Vernova from $1,220.00 to $1,235.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd.

GE Vernova Trading Down 1.7%

NYSE GEV opened at $997.11 on Tuesday. The company has a market cap of $265.56 billion, a P/E ratio of 28.54, a P/E/G ratio of 3.72 and a beta of 1.09. GE Vernova has a 12 month low of $530.16 and a 12 month high of $1,195.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The company has a 50-day moving average of $1,034.12 and a 200-day moving average of $925.93.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. During the same period in the prior year, the business posted $1.86 earnings per share. GE Vernova’s revenue was up 21.9% on a year-over-year basis. As a group, equities analysts predict that GE Vernova will post 15.16 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Insider Transactions at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the firm’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 transaction, the chief executive officer owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $2,470,856.97. Following the transaction, the chief accounting officer owned 3,549 shares in the company, 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. 0.21% of the stock is currently owned by insiders.

Institutional Trading of GE Vernova

Large investors have recently added to or reduced their stakes in the stock. Auto Owners Insurance Co grew its stake in shares of GE Vernova by 110,973.4% in the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after buying an additional 34,826,773 shares in the last quarter. Norges Bank purchased a new stake in shares of GE Vernova during the 4th quarter valued at about $2,283,114,000. Northwestern Mutual Wealth Management Co. lifted its position in 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 in the last quarter. Corient Private Wealth LLC boosted its holdings 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 worth $1,051,407,000 after acquiring an additional 1,553,295 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in GE Vernova by 4,358.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,519,799 shares of the company’s stock worth $1,316,076,000 after acquiring an additional 1,485,712 shares during the period.

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.