GE Vernova (NYSE:GEV) Reaches New 1-Year High - Time to Buy?

Key Points

• GE Vernova hit a new 52-week high, trading as high as $1,009.89 and around $997 with roughly 250,889 shares changing hands, signaling strong recent momentum.
• Analyst sentiment is broadly positive — MarketBeat shows a consensus Buy rating (3 Strong Buy, 22 Buy, 3 Hold) with a consensus price target of $919.48, while several firms have raised targets as high as $1,087.
• The company reported a major earnings beat (quarterly EPS of $13.39 vs $2.99 estimate and revenue of $10.96B), but it trades at a high P/E of 56.03 and yields just 0.2% from a $0.50 quarterly dividend.

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s share price hit a new 52-week high on Monday . The company traded as high as $1,009.89 and last traded at $997.3390, with a volume of 250889 shares changing hands. The stock had previously closed at $1,002.75.

Wall Street Analyst Weigh In

GEV has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price objective on shares of GE Vernova from $840.00 to $925.00 and gave the stock a "buy" rating in a report on Thursday, January 29th. Wells Fargo & Company raised their price objective on shares of GE Vernova from $831.00 to $896.00 and gave the stock an "overweight" rating in a report on Tuesday, March 31st. Robert W. Baird set a $923.00 price objective on shares of GE Vernova and gave the stock an "outperform" rating in a report on Wednesday, February 4th. Barclays raised their price objective on shares of GE Vernova from $849.00 to $993.00 and gave the stock an "overweight" rating in a report on Wednesday, April 1st. Finally, Glj Research raised their price objective on shares of GE Vernova from $758.00 to $1,087.00 and gave the stock a "buy" rating in a report on Monday, January 12th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, GE Vernova has a consensus rating of "Buy" and a consensus price target of $919.48.

GE Vernova Trading Down 0.6%

The stock has a market capitalization of $268.10 billion, a P/E ratio of 56.03, a P/E/G ratio of 3.92 and a beta of 1.43. The firm's fifty day moving average is $870.22 and its 200-day moving average is $716.06.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $10.40. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The firm had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.21 billion. During the same period last year, the firm posted $1.73 EPS. The firm's quarterly revenue was up 3.8% on a year-over-year basis. Equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th 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, March 17th. GE Vernova's dividend payout ratio (DPR) is currently 11.24%.

Hedge Funds Weigh In On GE Vernova

Several institutional investors have recently added to or reduced their stakes in GEV. Torren Management LLC bought a new position in shares of GE Vernova in the fourth quarter worth about $26,000. Cornerstone Financial Management LLC bought a new position in shares of GE Vernova in the fourth quarter worth about $25,000. Jackson Grant Investment Advisers Inc. raised its stake in shares of GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company's stock worth $25,000 after acquiring an additional 31 shares during the last quarter. Wealth Watch Advisors INC bought a new position in shares of GE Vernova in the third quarter worth about $25,000. Finally, ORG Wealth Partners LLC raised its stake in shares of GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company's stock worth $27,000 after acquiring an additional 29 shares during 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.

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