GE Vernova (NYSE:GEV) Trading Up 1.9% - Should You Buy?

Key Points

• GE Vernova shares rose 1.9% to about $1,008.71, while trading volume was 29% below its average. The stock’s average analyst rating is “Moderate Buy,” with a consensus price target of $1,133.15.
• The company’s latest quarterly revenue reached $11.10 billion, up 21.9% year over year and above estimates, but earnings of $2.47 per share missed the $3.17 consensus forecast.
• GE Vernova pays a quarterly dividend of $0.50 per share, equal to a 0.2% yield. Insiders recently sold shares, including the CEO and chief accounting officer, while institutional investors such as Vanguard, State Street and Morgan Stanley increased their holdings.

GE Vernova Inc. (NYSE:GEV - Get Free Report) shares rose 1.9% on Monday . The company traded as high as $1,012.74 and last traded at $1,008.7120. Approximately 2,002,144 shares changed hands during trading, a decline of 29% from the average daily volume of 2,825,316 shares. The stock had previously closed at $990.29.

Wall Street Analyst Weigh In

A number of research firms have commented on GEV. Oppenheimer increased their price objective on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Jefferies Financial Group restated a "buy" rating on shares of GE Vernova in a report on Monday, July 27th. BNP Paribas Exane lowered GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 price target for the company. in a research report on Monday, April 27th. Royal Bank Of Canada increased their price target on GE Vernova from $1,195.00 to $1,225.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Finally, Susquehanna set a $1,300.00 price objective on GE Vernova in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,133.15.

GE Vernova Stock Up 1.9%

The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $268.65 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 3.56 and a beta of 1.09. The firm's fifty day simple moving average is $1,028.05 and its two-hundred day simple moving average is $934.82.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.79 billion. During the same period last year, the company earned $1.86 EPS. The business's quarterly revenue was up 21.9% on a year-over-year basis. Sell-side analysts anticipate that GE Vernova Inc. will post 15.46 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is 5.72%.

Insiders Place Their Bets

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction on Thursday, May 14th. The stock was 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 directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the sale, the chief executive officer directly owned 1,835 shares of the company's stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GEV. Auto Owners Insurance Co boosted its position in shares of GE Vernova by 110,973.4% during the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company's stock worth $2,278,224,000 after purchasing an additional 34,826,773 shares during the period. Vanguard Group Inc. raised its position in GE Vernova by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company's stock valued at $16,354,691,000 after purchasing an additional 208,162 shares during the period. State Street Corp lifted its stake in GE Vernova by 2.1% during the fourth quarter. State Street Corp now owns 11,469,670 shares of the company's stock worth $7,496,232,000 after purchasing an additional 231,392 shares in the last quarter. Geode Capital Management LLC lifted its stake in GE Vernova by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company's stock worth $4,074,039,000 after purchasing an additional 68,894 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of GE Vernova by 12.8% during the fourth quarter. Morgan Stanley now owns 6,054,474 shares of the company's stock worth $3,957,024,000 after buying an additional 685,466 shares during the period.

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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