GE Vernova (NYSE:GEV) Reaches New 52-Week High - Still a Buy?

Key Points

• GE Vernova shares hit a new 52-week high, trading as high as $1,191.99 and ending up 5.4% on the day. The move came amid strong momentum, with the stock well above its 50-day and 200-day moving averages.
• Wall Street remains broadly bullish on the stock. Analysts have issued multiple price target increases, and GE Vernova currently carries a “Moderate Buy” consensus with an average target price of about $1,089.88.
• Recent fundamentals were strong, with the company reporting quarterly EPS of $17.44 versus expectations of $1.95 and revenue of $9.34 billion, up 17% year over year. GE Vernova also declared a quarterly dividend of $0.50 per share.

GE Vernova Inc. (NYSE:GEV - Get Free Report) shares reached a new 52-week high on Monday . The stock traded as high as $1,191.99 and last traded at $1,189.2470, with a volume of 394327 shares. The stock had previously closed at $1,113.11.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Thursday, April 16th. The Goldman Sachs Group restated a "buy" rating and issued a $1,328.00 target price on shares of GE Vernova in a research report on Friday, April 24th. Robert W. Baird upped their price target on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. Argus set a $1,300.00 price target on shares of GE Vernova in a research report on Monday, April 27th. Finally, Morgan Stanley lifted their price objective on shares of GE Vernova from $817.00 to $960.00 and gave the company an "overweight" rating in a research note on Monday, March 23rd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and an average target price of $1,089.88.

GE Vernova Trading Up 5.4%

The business's 50 day moving average price is $1,042.04 and its two-hundred day moving average price is $881.37. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $315.24 billion, a price-to-earnings ratio of 34.26, a P/E/G ratio of 4.11 and a beta of 1.09.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business had revenue of $9.34 billion during the quarter, compared to analysts' expectations of $9.19 billion. During the same period in the prior year, the company earned $0.91 EPS. The firm's quarterly revenue was up 17.0% compared to the same quarter last year. On average, equities analysts predict that GE Vernova Inc. will post 15.05 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova's dividend payout ratio is presently 5.83%.

Insider Buying and Selling at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the business's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the sale, 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. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction, the chief executive officer directly owned 1,835 shares of the company's stock, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Cornerstone Financial Management LLC bought a new position in shares of GE Vernova during the fourth quarter valued at $25,000. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova in the third quarter worth $25,000. Torren Management LLC bought a new stake in shares of GE Vernova in the fourth quarter worth $26,000. Manning & Napier Advisors LLC increased its holdings in GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock valued at $26,000 after purchasing an additional 13 shares during the period. Finally, ORG Wealth Partners LLC increased its holdings in GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company's stock valued at $27,000 after purchasing an additional 29 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.

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