GE Vernova (NYSE:GEV) Trading Up 2.2% - Still a Buy?

Key Points

• GE Vernova's shares rose by 2.2% to $624.61, with a significant increase in trading volume of 17% compared to the average daily volume.
• Analysts have set new price targets for GE Vernova, with Robert W. Baird raising their target to $706.00 and Jefferies increasing it to $668.00, indicating a generally optimistic outlook.
• The company reported a quarterly earnings per share (EPS) of $1.86, surpassing expectations of $1.63, along with a year-over-year revenue increase of 11.1%.

Shares of GE Vernova Inc. (NYSE:GEV - Get Free Report) were up 2.2% on Friday . The company traded as high as $625.66 and last traded at $624.61. Approximately 4,094,022 shares changed hands during trading, an increase of 17% from the average daily volume of 3,486,522 shares. The stock had previously closed at $611.00.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GEV shares. Robert W. Baird raised their price target on GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Jefferies Financial Group increased their price objective on GE Vernova from $658.00 to $668.00 and gave the company a "hold" rating in a research report on Friday, September 12th. UBS Group started coverage on GE Vernova in a research report on Monday, July 7th. They issued a "buy" rating and a $614.00 price objective on the stock. Guggenheim lowered GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Finally, Wolfe Research lowered GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Four research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $592.35.

GE Vernova Stock Performance

The firm has a market capitalization of $170.03 billion, a P/E ratio of 150.51, a price-to-earnings-growth ratio of 4.48 and a beta of 1.87. The company has a 50-day moving average price of $615.40 and a 200-day moving average price of $475.18.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.23. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm's revenue was up 11.1% on a year-over-year basis. During the same period last year, the company earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were issued a dividend of $0.25 per share. The ex-dividend date was Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's payout ratio is currently 24.10%.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the transaction, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GEV. Brighton Jones LLC lifted its holdings in GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after acquiring an additional 753 shares in the last quarter. American Assets Inc. acquired a new stake in shares of GE Vernova in the 4th quarter valued at about $658,000. Two Sigma Advisers LP acquired a new stake in shares of GE Vernova in the 4th quarter valued at about $17,729,000. Woodline Partners LP acquired a new stake in shares of GE Vernova in the 4th quarter valued at about $5,445,000. Finally, Waverly Advisors LLC raised its stake in shares of GE Vernova by 97.5% in the 4th quarter. Waverly Advisors LLC now owns 4,859 shares of the company's stock valued at $1,598,000 after purchasing an additional 2,399 shares during the period.

About GE Vernova

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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