GE Vernova (NYSE:GEV) Trading Up 1.7% - Still a Buy?

GE Vernova Inc. (NYSE:GEV - Get Free Report) shares rose 1.7% during mid-day trading on Tuesday . The stock traded as high as $476.01 and last traded at $472.39. Approximately 938,506 shares traded hands during trading, a decline of 72% from the average daily volume of 3,323,072 shares. The stock had previously closed at $464.39.

Wall Street Analyst Weigh In

GEV has been the topic of several recent research reports. Guggenheim reaffirmed a "buy" rating and set a $380.00 target price on shares of GE Vernova in a research note on Thursday, April 24th. Royal Bank of Canada lowered their price objective on GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research report on Tuesday, March 18th. Johnson Rice began coverage on GE Vernova in a research report on Friday, February 7th. They set a "buy" rating and a $425.00 price objective for the company. Truist Financial set a $440.00 price objective on GE Vernova in a research report on Thursday, March 27th. Finally, JPMorgan Chase & Co. boosted their price objective on GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Six analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $374.62.

GE Vernova Stock Performance

The firm has a fifty day simple moving average of $360.85 and a 200-day simple moving average of $351.62. The company has a market capitalization of $128.03 billion and a PE ratio of 84.36.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.37 by $0.54. The company had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business's revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.47) EPS. As a group, 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 given 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 payout ratio is 14.41%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GEV. Westover Capital Advisors LLC raised its stake in shares of GE Vernova by 2.3% in the 1st quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock worth $345,000 after buying an additional 25 shares in the last quarter. SVB Wealth LLC grew its stake in GE Vernova by 0.7% in the first quarter. SVB Wealth LLC now owns 3,585 shares of the company's stock valued at $1,094,000 after purchasing an additional 26 shares in the last quarter. Stonebridge Financial Group LLC boosted its stake in shares of GE Vernova by 8.9% during the 1st quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock worth $105,000 after acquiring an additional 28 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of GE Vernova by 0.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock worth $2,598,000 after purchasing an additional 30 shares during the last quarter. Finally, Hemington Wealth Management raised its holdings in GE Vernova by 20.3% in the 1st quarter. Hemington Wealth Management now owns 178 shares of the company's stock valued at $54,000 after acquiring an additional 30 shares in the last quarter.

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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