GE Vernova (NYSE:GEV) Trading 1.9% Higher - Time to Buy?

Key Points

• Earnings beat: GE Vernova reported $13.39 EPS versus $2.99 expected and $10.96B revenue versus $10.21B, with a 12.83% net margin and 46.91% ROE, and analysts project about 6.59 EPS for the current year.
• Analyst sentiment is broadly positive — MarketBeat shows a consensus rating of "Moderate Buy" (one Strong Buy, 23 Buy, 3 Hold) with a consensus target of $831.29 and individual targets up to $923 from firms that upgraded ratings.
• Stock and payout snapshot: the shares traded up 1.9% to $843.39, market cap is $227.32B with a P/E of 47.38, and the company announced a $0.50 quarterly dividend ($2.00 annual, ~0.2% yield; 11.24% payout ratio).

GE Vernova Inc. (NYSE:GEV - Get Free Report) traded up 1.9% during trading on Tuesday . The company traded as high as $844.27 and last traded at $843.3930. 2,238,622 shares were traded during mid-day trading, a decline of 22% from the average session volume of 2,882,798 shares. The stock had previously closed at $827.37.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. reiterated an "overweight" rating on shares of GE Vernova in a research note on Wednesday, December 10th. Barclays reaffirmed an "overweight" rating and issued a $849.00 target price on shares of GE Vernova in a report on Monday, February 2nd. Evercore raised their price target on shares of GE Vernova from $860.00 to $905.00 and gave the company an "outperform" rating in a research report on Thursday, January 29th. TD Cowen increased their target price on GE Vernova from $680.00 to $780.00 and gave the company a "buy" rating in a research note on Thursday, January 29th. Finally, Robert W. Baird set a $923.00 price target on GE Vernova and gave the stock an "outperform" rating in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $831.29.

GE Vernova Price Performance

The stock's 50-day moving average is $762.83 and its two-hundred day moving average is $665.47. The company has a market cap of $227.32 billion, a P/E ratio of 47.38, a P/E/G ratio of 3.20 and a beta of 1.44.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating analysts' consensus estimates of $2.99 by $10.40. The business had revenue of $10.96 billion during the quarter, compared to analyst estimates of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The company's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.73 EPS. On average, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's dividend payout ratio is currently 11.24%.

Institutional Investors Weigh In On GE Vernova

A number of large investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. boosted its holdings in shares of GE Vernova by 16.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 357,577 shares of the company's stock worth $233,703,000 after buying an additional 50,236 shares during the last quarter. Osbon Capital Management LLC purchased a new stake in GE Vernova during the fourth quarter valued at approximately $69,000. Lane Brothers & Co. Inc. bought a new position in GE Vernova in the fourth quarter worth approximately $226,000. World Investment Advisors boosted its stake in shares of GE Vernova by 19.9% during the 4th quarter. World Investment Advisors now owns 13,497 shares of the company's stock worth $8,821,000 after acquiring an additional 2,241 shares during the last quarter. Finally, Demming Financial Services Corp ADV bought a new stake in shares of GE Vernova during the 4th quarter valued at $238,000.

GE Vernova Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.