GE Vernova (NYSE:GEV) Trading Up 2.5% - Still a Buy?

Key Points

• GE Vernova's stock increased by 2.5% to close at $591.25, with trading volume significantly down by 72% compared to the average.
• Analysts have mixed views on GE Vernova, with upgrades from Seaport Res Ptn to a "strong-buy" rating and a downgrade from Wall Street Zen to "hold"; overall, the stock holds a consensus rating of "Moderate Buy".
• The company reported earnings of $1.86 per share for the last quarter, surpassing estimates, and had a year-over-year revenue increase of 11.1%.

Shares of GE Vernova Inc. (NYSE:GEV - Get Free Report) traded up 2.5% on Thursday . The company traded as high as $598.25 and last traded at $591.25. 972,806 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 3,512,401 shares. The stock had previously closed at $577.04.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Susquehanna lifted their price objective on GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Bank of America raised their target price on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Robert W. Baird raised their target price on GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. UBS Group started coverage on GE Vernova in a research note on Monday, July 7th. They issued a "buy" rating and a $614.00 target price for the company. Finally, JPMorgan Chase & Co. raised their target price on GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. 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 data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $573.75.

GE Vernova Price Performance

The stock has a 50 day simple moving average of $599.34 and a 200-day simple moving average of $460.59. The firm has a market cap of $163.22 billion, a PE ratio of 144.48, a PEG ratio of 4.02 and a beta of 1.88.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion during 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 company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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 $0.25 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is presently 24.10%.

Insider Activity at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the sale, the chief financial officer owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.15% of the company's stock.

Institutional Trading of GE Vernova

A number of institutional investors and hedge funds have recently modified their holdings of GEV. Brighton Jones LLC grew its holdings in shares of GE Vernova by 29.4% in 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 during the period. American Assets Inc. bought a new stake in shares of GE Vernova in the fourth quarter worth $658,000. Ethic Inc. bought a new stake in shares of GE Vernova in the fourth quarter worth $4,601,000. Ensign Peak Advisors Inc grew its holdings in shares of GE Vernova by 23.3% in the fourth quarter. Ensign Peak Advisors Inc now owns 115,657 shares of the company's stock worth $38,043,000 after acquiring an additional 21,853 shares during the period. Finally, Focus Partners Wealth grew its holdings in shares of GE Vernova by 18.3% in the fourth quarter. Focus Partners Wealth now owns 34,166 shares of the company's stock worth $11,754,000 after acquiring an additional 5,283 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.