GE Vernova (NYSE:GEV) Stock Price Up 2% - Time to Buy?

Key Points

• GE Vernova's stock price increased by 2%, reaching $616.65, despite a significant drop in trading volume, down 70% from its average.
• Several analysts have upgraded GE Vernova, with Bank of America raising its target price to $620 and Morgan Stanley to $675, indicating strong investor confidence.
• The company reported a quarterly EPS of $1.86, surpassing expectations, and also announced a quarterly dividend of $0.25 per share, representing an annualized yield of 0.2%.

Shares of GE Vernova Inc. (NYSE:GEV - Get Free Report) rose 2% during trading on Thursday . The stock traded as high as $620.00 and last traded at $616.65. Approximately 1,066,598 shares were traded during trading, a decline of 70% from the average daily volume of 3,553,119 shares. The stock had previously closed at $604.59.

Analyst Upgrades and Downgrades

GEV has been the topic of several research analyst reports. Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. The Goldman Sachs Group raised their target price on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Bank of America raised their target price on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Glj Research assumed coverage on GE Vernova in a research note on Monday, June 23rd. They issued a "buy" rating for the company. Finally, Morgan Stanley boosted their target price on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and an average price target of $560.21.

GE Vernova Trading Up 0.6%

The stock has a market cap of $165.65 billion, a P/E ratio of 146.63, a PEG ratio of 4.17 and a beta of 1.90. The firm has a 50-day simple moving average of $571.62 and a two-hundred day simple moving average of $437.96.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. During the same quarter last year, the business earned $4.65 earnings per share. GE Vernova's revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is presently 24.10%.

Institutional Investors Weigh In On GE Vernova

Hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC increased its holdings in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after acquiring an additional 753 shares in the last quarter. American Assets Inc. purchased a new stake in GE Vernova during the 4th quarter worth about $658,000. First Trust Advisors LP increased its stake in GE Vernova by 12.6% in the 4th quarter. First Trust Advisors LP now owns 174,149 shares of the company's stock worth $57,283,000 after acquiring an additional 19,531 shares during the last quarter. MML Investors Services LLC increased its position in shares of GE Vernova by 0.4% during the 4th quarter. MML Investors Services LLC now owns 30,528 shares of the company's stock valued at $10,042,000 after purchasing an additional 110 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in shares of GE Vernova by 191.9% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the company's stock valued at $36,000 after purchasing an additional 71 shares during 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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