GE Vernova (NYSE:GEV) Shares Gap Up - Time to Buy?

Key Points

• GE Vernova's shares gapped up from $585.33 to $607.00, but last traded at $540.30, with significant trading volume of 1,974,736 shares.
• Analysts have varied ratings on the stock, with one firm raising the price target from $474.00 to $697.00, while the average target price currently sits at $601.44.
• The company recently announced a quarterly dividend of $0.25 per share, representing a 0.2% yield, with an annual payout of $1.00.

GE Vernova Inc. (NYSE:GEV - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $585.33, but opened at $607.00. GE Vernova shares last traded at $540.30, with a volume of 1,974,736 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GEV. Wells Fargo & Company lifted their price objective on shares of GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Melius upgraded shares of GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 target price for the company in a research note on Monday, September 15th. UBS Group started coverage on shares of GE Vernova in a research note on Monday, July 7th. They issued a "buy" rating and a $614.00 target price for the company. Guggenheim cut shares of GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Finally, Morgan Stanley boosted their target price on shares of GE Vernova from $675.00 to $690.00 and gave the company an "overweight" rating in a research note on Thursday, October 16th. Four analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $601.44.

GE Vernova Stock Down 5.0%

The company has a market capitalization of $151.34 billion, a price-to-earnings ratio of 133.96, a PEG ratio of 4.30 and a beta of 1.72. The stock's 50-day simple moving average is $613.83 and its two-hundred day simple moving average is $524.82.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.72 by ($0.08). GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business had revenue of $9.97 billion for the quarter, compared to analysts' expectations of $9.15 billion. During the same period in the previous year, the company earned ($0.35) EPS. GE Vernova's quarterly revenue was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is presently 24.10%.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the sale, the chief financial officer owned 7,590 shares of the company's stock, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is owned by insiders.

Institutional Investors Weigh In On GE Vernova

Hedge funds have recently modified their holdings of the company. KG&L Capital Management LLC purchased a new position in GE Vernova during the third quarter worth about $378,000. D.A. Davidson & CO. boosted its stake in GE Vernova by 58.3% during the third quarter. D.A. Davidson & CO. now owns 12,721 shares of the company's stock worth $7,822,000 after buying an additional 4,685 shares during the period. CWA Asset Management Group LLC boosted its stake in GE Vernova by 50.1% during the third quarter. CWA Asset Management Group LLC now owns 3,630 shares of the company's stock worth $2,232,000 after buying an additional 1,211 shares during the period. OLD Second National Bank of Aurora boosted its stake in GE Vernova by 218.8% during the third quarter. OLD Second National Bank of Aurora now owns 204 shares of the company's stock worth $125,000 after buying an additional 140 shares during the period. Finally, Kercheville Advisors LLC boosted its stake in GE Vernova by 238.3% during the third quarter. Kercheville Advisors LLC now owns 4,905 shares of the company's stock worth $3,016,000 after buying an additional 3,455 shares during the period.

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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