GE Vernova (NYSE:GEV) Trading Up 1% - What's Next?

Key Points

• GE Vernova Inc. shares increased by 1%, closing at $656.35, with trading volume significantly lower than average.
• Analysts have varying outlooks for GE Vernova, with price targets ranging from $390.00 to $706.00, and a current average rating of "Moderate Buy."
• The company reported a net margin of 3.16% and a quarterly revenue of $9.11 billion, surpassing analysts’ expectations.

Shares of GE Vernova Inc. (NYSE:GEV - Get Free Report) were up 1% during mid-day trading on Wednesday . The company traded as high as $659.15 and last traded at $656.35. Approximately 604,551 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 3,631,604 shares. The stock had previously closed at $649.72.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Robert W. Baird boosted their price target on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Wolfe Research cut shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Glj Research assumed coverage on shares of GE Vernova in a research note on Monday, June 23rd. They set a "buy" rating on the stock. Wall Street Zen lowered shares of GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, TD Cowen boosted their price objective on shares of GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Ten analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $560.21.

GE Vernova Stock Performance

The stock has a market capitalization of $180.44 billion, a P/E ratio of 159.66, a P/E/G ratio of 4.58 and a beta of 1.90. The company's 50-day moving average price is $537.94 and its 200 day moving average price is $419.58.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating 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 company had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. During the same period last year, the company posted $4.65 earnings per share. GE Vernova's quarterly revenue was up 11.1% on a year-over-year basis. 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, 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 dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is presently 24.10%.

Hedge Funds Weigh In On GE Vernova

Large investors have recently made changes to their positions in the company. Sterling Capital Management LLC raised its holdings in shares of GE Vernova by 48.1% in the 2nd quarter. Sterling Capital Management LLC now owns 19,422 shares of the company's stock valued at $10,277,000 after purchasing an additional 6,310 shares in the last quarter. RPS Advisory Solutions LLC raised its holdings in shares of GE Vernova by 9.1% in the 2nd quarter. RPS Advisory Solutions LLC now owns 836 shares of the company's stock valued at $443,000 after purchasing an additional 70 shares in the last quarter. Nvwm LLC raised its holdings in shares of GE Vernova by 98,760.0% in the 2nd quarter. Nvwm LLC now owns 4,943 shares of the company's stock valued at $2,616,000 after purchasing an additional 4,938 shares in the last quarter. Bryn Mawr Trust Advisors LLC raised its holdings in shares of GE Vernova by 10.2% in the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 1,606 shares of the company's stock valued at $850,000 after purchasing an additional 148 shares in the last quarter. Finally, OneAscent Wealth Management LLC bought a new position in shares of GE Vernova during the 2nd quarter worth approximately $300,000.

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.

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