GE Vernova (NYSE:GEV) Trading Up 2.4% on Analyst Upgrade

Key Points

• GE Vernova's share price rose 2.4% following an upgrade from HSBC, with their price target increased from $570 to $580.
• Analysts are optimistic about GE Vernova, with ratings including four "Strong Buy" and eighteen "Buy," while the average price target is $573.75.
• The company recently reported earnings of $1.86 EPS for the quarter, exceeding estimates, with revenue rising 11.1% year-over-year to $9.11 billion.

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s share price was up 2.4% on Monday after HSBC raised their price target on the stock from $570.00 to $580.00. HSBC currently has a hold rating on the stock. GE Vernova traded as high as $600.26 and last traded at $595.83. Approximately 907,645 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 3,510,059 shares. The stock had previously closed at $582.08.

A number of other analysts have also weighed in on the stock. Morgan Stanley raised their price target on shares of GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. The Goldman Sachs Group raised their price target on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Barclays raised their price target on shares of GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of GE Vernova in a research note on Thursday, July 24th. Finally, Wall Street Zen cut shares of GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $573.75.

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.15% of the company's stock.

Institutional Investors Weigh In On GE Vernova

Several institutional investors have recently added to or reduced their stakes in GEV. Norges Bank bought a new stake in GE Vernova in the 2nd quarter valued at $1,809,220,000. GAMMA Investing LLC lifted its position in GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after buying an additional 2,135,066 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in GE Vernova by 273.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company's stock worth $798,126,000 after buying an additional 1,104,747 shares in the last quarter. AQR Capital Management LLC lifted its position in GE Vernova by 252.9% during the 1st quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company's stock worth $366,016,000 after buying an additional 892,549 shares in the last quarter. Finally, Amundi lifted its position in GE Vernova by 109.0% during the 1st quarter. Amundi now owns 1,665,980 shares of the company's stock worth $496,013,000 after buying an additional 868,927 shares in the last quarter.

GE Vernova Stock Performance

The firm's 50-day simple moving average is $597.95 and its 200 day simple moving average is $458.69. The stock has a market capitalization of $162.37 billion, a P/E ratio of 143.57, a PEG ratio of 4.02 and a beta of 1.88.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping 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 firm had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. During the same period in the previous year, the firm posted $4.65 EPS. The company's revenue for the quarter was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were issued 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 was Monday, July 21st. GE Vernova's dividend payout ratio is presently 24.10%.

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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