GE Vernova (NYSE:GEV) Stock Price Up 2.5% - What's Next?

Shares of GE Vernova Inc. (NYSE:GEV - Get Free Report) were up 2.5% on Monday . The company traded as high as $492.53 and last traded at $490.19. Approximately 861,615 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 3,271,853 shares. The stock had previously closed at $478.45.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wolfe Research lowered GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday. Morgan Stanley reiterated an "overweight" rating and issued a $422.00 target price (up previously from $400.00) on shares of GE Vernova in a report on Thursday, April 24th. CICC Research started coverage on shares of GE Vernova in a report on Wednesday, February 19th. They set an "outperform" rating for the company. Jefferies Financial Group lowered GE Vernova from a "buy" rating to a "hold" rating and lifted their price objective for the stock from $427.00 to $517.00 in a research note on Thursday, May 29th. Finally, Barclays increased their target price on GE Vernova from $500.00 to $550.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Eight research analysts have rated the stock with a hold rating, nineteen have given a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, GE Vernova has a consensus rating of "Moderate Buy" and an average target price of $404.56.

GE Vernova Stock Up 1.7%

The company has a market cap of $132.84 billion, a P/E ratio of 87.54, a P/E/G ratio of 3.03 and a beta of 1.97. The business has a 50-day moving average price of $408.13 and a two-hundred day moving average price of $365.83.

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

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova's dividend payout ratio (DPR) is currently 14.41%.

Institutional Trading of GE Vernova

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new position in shares of GE Vernova during the 4th quarter valued at about $1,109,720,000. Capital International Investors raised its position in GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after buying an additional 2,994,660 shares during the last quarter. GAMMA Investing LLC boosted its position in GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after acquiring an additional 2,135,066 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in GE Vernova by 1,638.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock worth $432,309,000 after purchasing an additional 1,238,690 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of GE Vernova by 252.9% in the 1st quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company's stock valued at $366,016,000 after acquiring an additional 892,549 shares in the last quarter.

GE Vernova Company Profile

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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