GE Vernova (NYSE:GEV) Trading 2% Higher - What's Next?

Key Points

• GE Vernova's stock recently increased by 2%, reaching a last trading price of $614.57, though trading volume fell by 47% compared to its average.
• Analysts have set new price targets for GE Vernova, with a range from $570.00 to $740.00, indicating a consensus rating of "Moderate Buy".
• The company recently announced a quarterly dividend of $0.25 per share, which will be issued on November 17th, reflecting a 0.2% yield.

GE Vernova Inc. (NYSE:GEV - Get Free Report) traded up 2% during mid-day trading on Tuesday . The stock traded as high as $614.94 and last traded at $614.57. 1,815,991 shares were traded during mid-day trading, a decline of 47% from the average session volume of 3,441,306 shares. The stock had previously closed at $602.43.

Analysts Set New Price Targets

GEV has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Mizuho lowered shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target on the stock. in a report on Monday, July 28th. Melius raised shares of GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 price target on the stock in a report on Monday, September 15th. Finally, BMO Capital Markets upped their price target on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $592.35.

GE Vernova Trading Up 2.0%

The firm's 50-day moving average is $623.69 and its two-hundred day moving average is $493.48. The stock has a market cap of $167.30 billion, a price-to-earnings ratio of 148.09, a P/E/G ratio of 4.41 and a beta of 1.88.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share 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 firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the prior year, the firm earned $4.65 EPS. The company's revenue for the quarter was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be issued a $0.25 dividend. The ex-dividend date is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's dividend payout ratio is presently 24.10%.

Insider Buying and Selling

In other GE Vernova 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 value of $2,046,000.00. Following the completion of the sale, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.15% of the company's stock.

Institutional Trading of GE Vernova

A number of hedge funds have recently bought and sold shares of GEV. EQ Wealth Advisors LLC acquired a new stake in GE Vernova in the 1st quarter valued at about $27,000. IMA Advisory Services Inc. purchased a new stake in shares of GE Vernova in the 1st quarter valued at approximately $27,000. WFA Asset Management Corp purchased a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $29,000. Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock valued at $30,000 after buying an additional 53 shares during the period. Finally, 1248 Management LLC purchased a new stake in shares of GE Vernova in the 1st quarter valued at approximately $31,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.