GE Vernova (NYSE:GEV) Trading 3.3% Higher - Time to Buy?

Shares of GE Vernova Inc. (NYSE:GEV - Get Free Report) rose 3.3% during mid-day trading on Friday . The company traded as high as $524.00 and last traded at $523.67. Approximately 1,096,600 shares changed hands during trading, a decline of 66% from the average daily volume of 3,258,525 shares. The stock had previously closed at $506.81.

Analyst Ratings Changes

Several research firms have recently commented on GEV. New Street Research set a $380.00 price target on GE Vernova in a report on Wednesday, March 5th. Bank of America raised their target price on GE Vernova from $520.00 to $550.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. BMO Capital Markets upped their price target on shares of GE Vernova from $381.00 to $522.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Finally, Truist Financial set a $440.00 price objective on shares of GE Vernova in a research note on Thursday, March 27th. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $429.13.

GE Vernova Price Performance

The firm has a market cap of $144.11 billion, a price-to-earnings ratio of 76.09, a price-to-earnings-growth ratio of 3.90 and a beta of 1.97. The business's 50-day moving average price is $439.93 and its two-hundred day moving average price is $375.18.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share 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 during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the firm posted ($0.47) EPS. GE Vernova's revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC increased its position in GE Vernova by 3.4% during the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after purchasing an additional 814,155 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of GE Vernova by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock valued at $7,446,577,000 after buying an additional 432,830 shares during the period. Capital International Investors increased its holdings in shares of GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after buying an additional 2,994,660 shares during the last quarter. Geode Capital Management LLC raised its position in shares of GE Vernova by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock worth $1,898,814,000 after buying an additional 195,828 shares during the period. Finally, Norges Bank purchased a new position in shares of GE Vernova in the 4th quarter worth $1,109,720,000.

About GE Vernova

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.

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