GE Vernova (NYSE:GEV) Stock Price Up 5.7% - Here's What Happened

Key Points

• GE Vernova Inc. saw its stock price increase by 5.7%, reaching a last trading price of $640.15, though trading volume was down by 61% from its average.
• Analysts have mixed opinions on the stock, with a downgrade from Wall Street Zen to "hold", while Susquehanna raised its target price significantly to $736.00.
• The company reported a quarterly EPS of $1.86, surpassing expectations and indicating an 11.1% revenue increase year-over-year.

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s share price traded up 5.7% on Wednesday . The company traded as high as $644.62 and last traded at $640.15. 1,346,886 shares were traded during trading, a decline of 61% from the average session volume of 3,497,396 shares. The stock had previously closed at $605.70.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GEV. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Susquehanna boosted their target price on GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Royal Bank Of Canada restated an "outperform" rating on shares of GE Vernova in a report on Thursday, July 24th. Guggenheim lowered GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Finally, Bank of America boosted their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, GE Vernova currently has an average rating of "Moderate Buy" and a consensus target price of $573.75.

GE Vernova Trading Up 6.4%

The company's 50 day moving average is $601.36 and its 200-day moving average is $461.60. The company has a market capitalization of $175.40 billion, a P/E ratio of 155.22, a price-to-earnings-growth ratio of 4.15 and a beta of 1.88.

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

GE Vernova Dividend Announcement

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

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated 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 sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.15% of the company's stock.

Institutional Trading of GE Vernova

Institutional investors have recently bought and sold shares of the company. EQ Wealth Advisors LLC purchased a new stake in shares of GE Vernova during the 1st quarter valued at about $27,000. IMA Advisory Services Inc. purchased a new stake in shares of GE Vernova during the 1st quarter valued at about $27,000. WFA Asset Management Corp purchased a new stake in shares of GE Vernova during the 2nd quarter valued at about $29,000. Orion Capital Management LLC purchased a new stake in shares of GE Vernova during the 4th quarter valued at about $30,000. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its holdings in shares of GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock valued at $30,000 after acquiring an additional 53 shares during 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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