GE Vernova (NYSE:GEV) Trading 2.8% Higher - Here's Why

Key Points

• GE Vernova shares rose 2.8% intraday to about $936.31 (high $962.72) on Wednesday, with trading volume down roughly 18% versus the average session.
• Multiple analysts raised ratings and price targets—Rothschild & Co Redburn to $1,100 and GLJ to $1,087—leaving the consensus as a Buy with an average target of $863.61.
• The company reported a strong quarter (EPS $13.39 vs. $2.99 expected; revenue $10.96B vs. $10.21B) and announced a $0.50 quarterly dividend (annualized $2.00, yield ~0.2%; ex-div March 17, pay April 14).

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s stock price traded up 2.8% during mid-day trading on Wednesday . The stock traded as high as $962.72 and last traded at $936.3120. 2,322,556 shares traded hands during trading, a decline of 18% from the average session volume of 2,825,620 shares. The stock had previously closed at $910.75.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Glj Research increased their target price on GE Vernova from $758.00 to $1,087.00 and gave the stock a "buy" rating in a research report on Monday, January 12th. Susquehanna increased their price target on GE Vernova from $800.00 to $820.00 and gave the company a "positive" rating in a research note on Thursday, January 29th. Rothschild & Co Redburn raised GE Vernova from a "sell" rating to a "buy" rating and increased their price target for the company from $560.00 to $1,100.00 in a research note on Monday, March 9th. China Renaissance raised GE Vernova to a "strong-buy" rating in a research note on Thursday, January 29th. Finally, Bank of America increased their price target on GE Vernova from $725.00 to $804.00 and gave the company a "buy" rating in a research note on Wednesday, December 10th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $863.61.

GE Vernova Trading Up 2.8%

The firm has a market capitalization of $252.36 billion, a P/E ratio of 52.60, a price-to-earnings-growth ratio of 3.54 and a beta of 1.43. The firm has a 50 day moving average price of $832.45 and a 200-day moving average price of $695.60.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 46.91% and a net margin of 12.83%.The company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the company earned $1.73 EPS. Research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova's dividend payout ratio (DPR) is presently 11.24%.

Institutional Investors Weigh In On GE Vernova

Several institutional investors have recently modified their holdings of the stock. Jackson Grant Investment Advisers Inc. raised its holdings in shares of GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company's stock worth $25,000 after buying an additional 31 shares during the period. Cornerstone Financial Management LLC purchased a new stake in shares of GE Vernova in the fourth quarter worth approximately $25,000. Wealth Watch Advisors INC purchased a new stake in shares of GE Vernova in the third quarter worth approximately $25,000. Torren Management LLC purchased a new stake in shares of GE Vernova in the fourth quarter worth approximately $26,000. Finally, ORG Wealth Partners LLC raised its holdings in shares of GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company's stock worth $27,000 after buying an additional 29 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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