GE Vernova (NYSE:GEV) Stock Price Up 1.1% - Should You Buy?

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s share price shot up 1.1% during mid-day trading on Friday . The stock traded as high as $468.27 and last traded at $464.05. 1,355,072 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 3,327,005 shares. The stock had previously closed at $458.82.

Wall Street Analyst Weigh In

Several research firms recently commented on GEV. Johnson Rice initiated coverage on shares of GE Vernova in a research note on Friday, February 7th. They set a "buy" rating and a $425.00 price objective on the stock. BMO Capital Markets cut their price target on GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. Susquehanna reaffirmed a "positive" rating and set a $499.00 price objective (up previously from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Truist Financial set a $440.00 target price on GE Vernova in a report on Thursday, March 27th. Finally, TD Cowen reduced their price target on GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Six research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, GE Vernova currently has an average rating of "Moderate Buy" and a consensus target price of $374.62.

GE Vernova Stock Performance

The company has a market capitalization of $129.44 billion and a P/E ratio of 85.22. The stock has a fifty day moving average of $360.85 and a 200 day moving average of $351.62.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the firm posted ($0.47) EPS. GE Vernova's quarterly revenue was up 10.6% compared to the same quarter last year. Research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. GE Vernova's dividend payout ratio (DPR) is 14.41%.

Institutional Trading of GE Vernova

Several hedge funds have recently made changes to their positions in the business. Register Financial Advisors LLC bought a new stake in shares of GE Vernova in the 4th quarter valued at approximately $206,000. GPS Wealth Strategies Group LLC lifted its holdings in shares of GE Vernova by 1,126.0% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company's stock worth $294,000 after acquiring an additional 822 shares during the last quarter. Legacy Bridge LLC lifted its stake in GE Vernova by 77.0% in the fourth quarter. Legacy Bridge LLC now owns 10,982 shares of the company's stock worth $3,612,000 after purchasing an additional 4,776 shares during the last quarter. CENTRAL TRUST Co grew its stake in shares of GE Vernova by 16.6% during the fourth quarter. CENTRAL TRUST Co now owns 9,872 shares of the company's stock valued at $3,247,000 after buying an additional 1,408 shares during the last quarter. Finally, Principal Securities Inc. raised its holdings in shares of GE Vernova by 29.0% in the fourth quarter. Principal Securities Inc. now owns 1,892 shares of the company's stock worth $622,000 after buying an additional 425 shares during the period.

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.