GE Vernova (NYSE:GEV) Hits New 12-Month High - Here's Why

Key Points

• GE Vernova Inc. (NYSE:GEV) reached a new **52-week high** with shares trading at $655.65, closing at $632.80 with a trading volume of **2.74 million** shares.
• Recent analyst reports show a mix of ratings, with **ten** maintaining a hold rating, while **eighteen** assigned a buy rating; Barclays increased their target price to **$706.00** with an overweight rating.
• The company announced a **quarterly dividend** of $0.25 per share, reflecting an annualized yield of **0.15%**, with a payout ratio of **24.10%**.

Shares of GE Vernova Inc. (NYSE:GEV - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $655.65 and last traded at $632.80, with a volume of 2747715 shares. The stock had previously closed at $647.66.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GEV shares. UBS Group began coverage on GE Vernova in a research report on Monday, July 7th. They issued a "buy" rating and a $614.00 target price on the stock. Mizuho downgraded GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target for the company. in a report on Monday. JPMorgan Chase & Co. lifted their target price on GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. The Goldman Sachs Group boosted their price target on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Finally, BMO Capital Markets boosted their price target on GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $560.21.

GE Vernova Stock Performance

The stock has a market capitalization of $178.76 billion, a P/E ratio of 158.23, a price-to-earnings-growth ratio of 4.53 and a beta of 1.86. The stock's fifty day simple moving average is $526.57 and its two-hundred day simple moving average is $413.87.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the previous year, the company earned $4.65 EPS. The company's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's dividend payout ratio is presently 24.10%.

Institutional Trading of GE Vernova

Institutional investors and hedge funds have recently bought and sold shares of the company. WFA Asset Management Corp purchased a new position in shares of GE Vernova in the second quarter valued at about $29,000. Highline Wealth Partners LLC raised its holdings in GE Vernova by 34.6% in the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock worth $37,000 after acquiring an additional 18 shares during the last quarter. Raleigh Capital Management Inc. purchased a new stake in shares of GE Vernova during the 2nd quarter valued at about $37,000. Advantage Trust Co purchased a new stake in shares of GE Vernova during the 2nd quarter valued at about $40,000. Finally, Solstein Capital LLC purchased a new position in shares of GE Vernova in the second quarter worth approximately $44,000.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.