GE Vernova (NYSE:GEV) Trading 1.4% Higher - Still a Buy?

Key Points

• GE Vernova shares rose 1.4% in Monday trading, with volume running well above average, as the stock continued to trade near its recent highs.
• Wall Street sentiment remains bullish: multiple analysts raised price targets to as high as $1,400, and the consensus rating is still Moderate Buy with an average target near $1,089.88.
• The company posted a strong quarterly beat, reporting $17.44 EPS on revenue of $9.34 billion, while also announcing a quarterly dividend of $0.50 per share.

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s share price rose 1.4% during trading on Monday . The company traded as high as $1,142.00 and last traded at $1,125.6220. 3,908,335 shares traded hands during mid-day trading, an increase of 40% from the average daily volume of 2,783,568 shares. The stock had previously closed at $1,109.73.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Erste Group Bank upgraded GE Vernova to a "strong-buy" rating in a research note on Tuesday, March 24th. Susquehanna set a $1,300.00 price objective on shares of GE Vernova in a research report on Thursday, April 23rd. Argus set a $1,300.00 target price on shares of GE Vernova in a research note on Monday, April 27th. Guggenheim boosted their target price on shares of GE Vernova from $910.00 to $1,300.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Finally, Robert W. Baird upped their price target on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $1,089.88.

GE Vernova Stock Performance

The firm's 50 day simple moving average is $1,022.78 and its 200 day simple moving average is $849.76. The firm has a market capitalization of $302.48 billion, a price-to-earnings ratio of 32.79, a PEG ratio of 4.11 and a beta of 1.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm had revenue of $9.34 billion during the quarter, compared to analysts' expectations of $9.19 billion. During the same quarter last year, the company posted $0.91 earnings per share. The firm's revenue was up 17.0% compared to the same quarter last year. Sell-side analysts forecast that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova's dividend payout ratio is presently 5.83%.

Insider Transactions at GE Vernova

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the business'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 directly owned 3,549 shares in the company, valued at $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Victor Abate sold 4,819 shares of the company's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the transaction, the chief executive officer owned 1,835 shares of the company's stock, valued at $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by company insiders.

Institutional Trading of GE Vernova

Several large investors have recently made changes to their positions in the company. Auto Owners Insurance Co boosted its stake in GE Vernova by 110,973.4% during the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company's stock worth $2,278,224,000 after buying an additional 34,826,773 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of GE Vernova by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company's stock worth $16,354,691,000 after acquiring an additional 208,162 shares during the last quarter. State Street Corp increased its stake in shares of GE Vernova by 2.1% in the 4th quarter. State Street Corp now owns 11,469,670 shares of the company's stock worth $7,496,232,000 after acquiring an additional 231,392 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of GE Vernova by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company's stock worth $4,074,039,000 after acquiring an additional 68,894 shares during the period. Finally, Morgan Stanley raised its holdings in shares of GE Vernova by 12.8% during the 4th quarter. Morgan Stanley now owns 6,054,474 shares of the company's stock worth $3,957,024,000 after acquiring an additional 685,466 shares during the period.

About GE Vernova

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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