GE Vernova (NYSE:GEV) Trading 4.2% Higher - What's Next?

Key Points

• GE Vernova shares rose 4.2% in Monday trading, with volume running above average as the stock hit an intraday high of $987.22 before closing at $980.08.
• Analyst sentiment remains broadly positive: several firms raised price targets, and the stock now carries a Moderate Buy consensus with an average target price of $1,085.16.
• The company delivered a huge earnings beat in its latest quarter, reporting $17.44 EPS versus $1.95 expected and revenue of $9.34 billion, up 17% year over year.

GE Vernova Inc. (NYSE:GEV - Get Free Report) traded up 4.2% during trading on Monday . The stock traded as high as $987.22 and last traded at $980.0750. 3,396,818 shares changed hands during trading, an increase of 24% from the average session volume of 2,747,809 shares. The stock had previously closed at $940.66.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley boosted their price target on shares of GE Vernova from $817.00 to $960.00 and gave the stock an "overweight" rating in a report on Monday, March 23rd. Jefferies Financial Group lowered their price target on shares of GE Vernova from $1,350.00 to $1,210.00 and set a "buy" rating for the company in a report on Thursday. Weiss Ratings upgraded shares of GE Vernova from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, April 24th. Guggenheim boosted their price target on shares of GE Vernova from $910.00 to $1,300.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Finally, BMO Capital Markets boosted their price target on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and an average target price of $1,085.16.

GE Vernova Stock Performance

The firm's fifty day moving average price is $1,008.85 and its 200-day moving average price is $833.50. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. The firm has a market cap of $263.37 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 3.49 and a beta of 1.24.

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, beating 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 business had revenue of $9.34 billion during the quarter, compared to analysts' expectations of $9.19 billion. During the same quarter in the prior year, the business posted $0.91 EPS. The company's revenue for the quarter was up 17.0% on a year-over-year basis. Analysts expect that GE Vernova Inc. will post 14.99 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Insider Buying and Selling at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the company's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the transaction, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the transaction, the chief accounting officer owned 3,549 shares of the company's stock, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company's stock.

Institutional Trading of GE Vernova

Several institutional investors and hedge funds have recently bought and sold shares of the business. FAS Wealth Partners Inc. raised its position in GE Vernova by 5.0% in the 1st quarter. FAS Wealth Partners Inc. now owns 562 shares of the company's stock valued at $491,000 after purchasing an additional 27 shares during the last quarter. Robinswood Financial LLC purchased a new stake in GE Vernova in the 1st quarter valued at $79,000. Pine Valley Investments Ltd Liability Co raised its position in GE Vernova by 93.8% in the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 5,662 shares of the company's stock valued at $4,942,000 after purchasing an additional 2,741 shares during the last quarter. Wealthquest Corp raised its position in GE Vernova by 1.2% in the 1st quarter. Wealthquest Corp now owns 924 shares of the company's stock valued at $807,000 after purchasing an additional 11 shares during the last quarter. Finally, DV Trading LLC raised its position in GE Vernova by 105.5% in the 1st quarter. DV Trading LLC now owns 520 shares of the company's stock valued at $454,000 after purchasing an additional 267 shares during the last quarter.

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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