GE Vernova (NYSE:GEV) Stock Price Up 1.2% - What's Next?

GE Vernova Inc. (NYSE:GEV - Get Free Report) traded up 1.2% during trading on Monday . The stock traded as high as $527.82 and last traded at $525.83. 561,079 shares were traded during mid-day trading, a decline of 83% from the average session volume of 3,280,231 shares. The stock had previously closed at $519.66.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GEV shares. Robert W. Baird boosted their target price on shares of GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. BMO Capital Markets increased their price objective on GE Vernova from $381.00 to $522.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Truist Financial set a $440.00 target price on shares of GE Vernova in a research report on Thursday, March 27th. New Street Research set a $380.00 price target on shares of GE Vernova in a research report on Wednesday, March 5th. Finally, Citigroup cut their price objective on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Eight equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $429.13.

GE Vernova Stock Performance

The business has a 50 day simple moving average of $443.89 and a 200-day simple moving average of $377.07. The firm has a market cap of $144.63 billion, a price-to-earnings ratio of 76.36, a P/E/G ratio of 4.03 and a beta of 1.97.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The company had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the previous year, the firm earned ($0.47) earnings per share. GE Vernova's quarterly revenue was up 10.6% on a year-over-year basis. As a group, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.19%. GE Vernova's dividend payout ratio is currently 14.41%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MRP Capital Investments LLC purchased a new position in shares of GE Vernova in the 4th quarter worth approximately $25,000. Fairway Wealth LLC boosted its position in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after purchasing an additional 55 shares during the last quarter. Navigoe LLC bought a new position in GE Vernova in the 4th quarter valued at $27,000. EQ Wealth Advisors LLC purchased a new stake in shares of GE Vernova during the 1st quarter valued at $27,000. Finally, IMA Advisory Services Inc. purchased a new stake in shares of GE Vernova during the 1st quarter valued at $27,000.

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.