GE Vernova (NYSE:GEV) Shares Up 1.4% - Still a Buy?

Key Points

• GE Vernova shares rose 1.4% on Friday, trading between $1,102.79 and $1,090.64, though volume was well below average at about 1.36 million shares.
• Analyst sentiment remains constructive overall, with a “Moderate Buy” consensus and an average price target of $1,089.88. Recent target increases from firms like BMO Capital Markets and Guggenheim pushed some expectations as high as $1,250 to $1,300.
• The company posted strong quarterly results, including EPS of $17.44 versus the $1.95 estimate and revenue of $9.34 billion, up 17% year over year. GE Vernova also declared a quarterly dividend of $0.50 per share, payable July 14.

GE Vernova Inc. (NYSE:GEV - Get Free Report) shares traded up 1.4% during trading on Friday . The company traded as high as $1,102.79 and last traded at $1,090.6370. Approximately 1,361,077 shares traded hands during trading, a decline of 51% from the average session volume of 2,796,323 shares. The stock had previously closed at $1,075.26.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. BMO Capital Markets lifted their price objective on GE Vernova from $1,110.00 to $1,250.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. Zacks Research lowered GE Vernova from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 28th. Sanford C. Bernstein started coverage on GE Vernova in a research note on Tuesday, June 16th. They set an "outperform" rating and a $1,206.00 target price for the company. Guggenheim lifted their target price on GE Vernova from $910.00 to $1,300.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Finally, Erste Group Bank raised GE Vernova to a "strong-buy" rating in a research note on Tuesday, March 24th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,089.88.

GE Vernova Trading Up 1.4%

The firm's 50 day simple moving average is $1,039.56 and its two-hundred day simple moving average is $893.94. The stock has a market capitalization of $293.08 billion, a P/E ratio of 31.77, a P/E/G ratio of 3.95 and a beta of 1.09. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19.

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. The company had revenue of $9.34 billion for the quarter, compared to analysts' expectations of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business's revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 EPS. As a group, analysts forecast 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. Shareholders of record on Tuesday, June 16th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova's dividend payout ratio is presently 5.83%.

Insider Buying and Selling

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the sale, the chief accounting officer owned 3,549 shares of the company's stock, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the sale, the chief executive officer owned 1,835 shares of the company's stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company's stock.

Institutional Trading of GE Vernova

A number of hedge funds and other institutional investors have recently bought and sold shares of GEV. Onyx Bridge Wealth Group LLC raised its holdings in shares of GE Vernova by 1.3% in the 1st quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company's stock worth $635,000 after acquiring an additional 9 shares during the last quarter. Red Door Wealth Management LLC boosted its stake in GE Vernova by 0.6% during the 1st quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company's stock valued at $1,548,000 after purchasing an additional 10 shares during the last quarter. Advance Capital Management Inc. boosted its stake in GE Vernova by 2.2% during the 1st quarter. Advance Capital Management Inc. now owns 461 shares of the company's stock valued at $402,000 after purchasing an additional 10 shares during the last quarter. Alpha Financial Partners LLC increased its holdings in GE Vernova by 2.0% during the 1st quarter. Alpha Financial Partners LLC now owns 514 shares of the company's stock worth $449,000 after purchasing an additional 10 shares in the last quarter. Finally, Sandy Cove Advisors LLC increased its holdings in GE Vernova by 2.6% during the 2nd quarter. Sandy Cove Advisors LLC now owns 389 shares of the company's stock worth $457,000 after purchasing an additional 10 shares in the last quarter.

GE Vernova Company Profile

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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