GE Vernova (NYSE:GEV) Trading Up 2.6% - Here's What Happened

Key Points

• GE Vernova's stock increased by 2.6% to close at $621.52, despite a significant drop in trading volume, with only 1,038,170 shares traded compared to an average of 3,546,242 shares.
• Several analysts have revised their ratings and price targets for GE Vernova, with Morgan Stanley setting a target of $675.00 and Barclays raising theirs to $706.00, reflecting a strong overall interest in the stock.
• The company reported $1.86 EPS for the recent quarter, surpassing estimates, and showed a year-over-year revenue growth of 11.1% to $9.11 billion.

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s share price was up 2.6% during trading on Friday . The stock traded as high as $623.98 and last traded at $621.52. Approximately 1,038,170 shares were traded during trading, a decline of 71% from the average daily volume of 3,546,242 shares. The stock had previously closed at $606.00.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Guggenheim lowered GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Morgan Stanley raised their price target on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Barclays raised their price target on GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, BMO Capital Markets increased their price objective on GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $560.21.

GE Vernova Stock Performance

The company has a market cap of $165.00 billion, a P/E ratio of 146.05, a price-to-earnings-growth ratio of 4.18 and a beta of 1.90. The stock has a 50-day moving average of $574.01 and a two-hundred day moving average of $439.65.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The company 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 firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current 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%.

Institutional Trading of GE Vernova

A number of institutional investors and hedge funds have recently modified their holdings of GEV. Caitong International Asset Management Co. Ltd bought a new stake in shares of GE Vernova in the first quarter worth $912,000. Resona Asset Management Co. Ltd. grew its holdings in shares of GE Vernova by 8.2% in the first quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company's stock worth $26,229,000 after acquiring an additional 6,551 shares during the period. Lockheed Martin Investment Management Co. bought a new stake in shares of GE Vernova in the first quarter worth $458,000. Golden State Wealth Management LLC grew its holdings in shares of GE Vernova by 201.7% in the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock worth $373,000 after acquiring an additional 817 shares during the period. Finally, Public Sector Pension Investment Board lifted its position in GE Vernova by 8.5% during the first quarter. Public Sector Pension Investment Board now owns 37,620 shares of the company's stock valued at $11,485,000 after purchasing an additional 2,942 shares in the last quarter.

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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