GE Vernova (NYSE:GEV) Sets New 12-Month High - Still a Buy?

GE Vernova Inc. (NYSE:GEV - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $451.37 and last traded at $449.36, with a volume of 2745624 shares traded. The stock had previously closed at $446.60.

Analysts Set New Price Targets

Several brokerages have commented on GEV. BMO Capital Markets dropped their price target on shares of GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. Baird R W upgraded GE Vernova to a "strong-buy" rating in a research report on Thursday, February 13th. William Blair reiterated an "outperform" rating on shares of GE Vernova in a research report on Thursday, January 23rd. TD Cowen decreased their price target on GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Morgan Stanley restated an "overweight" rating and set a $422.00 price objective (up from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. Six research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $374.62.

GE Vernova Stock Up 0.6%

The stock has a market cap of $122.65 billion and a price-to-earnings ratio of 80.82. The company's 50-day simple moving average is $349.99 and its 200-day simple moving average is $347.66.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company's revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted ($0.47) EPS. As a group, analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.22%. GE Vernova's dividend payout ratio (DPR) is 14.41%.

Institutional Trading of GE Vernova

Several institutional investors and hedge funds have recently bought and sold shares of GEV. Register Financial Advisors LLC acquired a new stake in shares of GE Vernova during the fourth quarter valued at approximately $206,000. GPS Wealth Strategies Group LLC grew its position in GE Vernova by 1,126.0% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company's stock worth $294,000 after purchasing an additional 822 shares in the last quarter. Legacy Bridge LLC grew its position in GE Vernova by 77.0% during the 4th quarter. Legacy Bridge LLC now owns 10,982 shares of the company's stock worth $3,612,000 after purchasing an additional 4,776 shares in the last quarter. CENTRAL TRUST Co raised its stake in GE Vernova by 16.6% during the 4th quarter. CENTRAL TRUST Co now owns 9,872 shares of the company's stock valued at $3,247,000 after purchasing an additional 1,408 shares during the period. Finally, Principal Securities Inc. lifted its holdings in shares of GE Vernova by 29.0% in the fourth quarter. Principal Securities Inc. now owns 1,892 shares of the company's stock valued at $622,000 after purchasing an additional 425 shares in the last quarter.

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.

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