GE Vernova (NYSE:GEV) Trading Up 3% - Here's What Happened

Key Points

• GE Vernova's stock price increased by 3% to $620.32, despite a significant decrease in trading volume compared to its average.
• Analysts have mixed opinions on GE Vernova, with price target adjustments ranging from a raise to $736.00 by Susquehanna to a reduction in rating by Guggenheim.
• The company recently declared a quarterly dividend of $0.25, reflecting an annualized dividend yield of 0.2% and a payout ratio of 24.10%.

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s stock price rose 3% on Tuesday . The stock traded as high as $623.42 and last traded at $620.32. Approximately 758,125 shares changed hands during trading, a decline of 79% from the average daily volume of 3,530,894 shares. The stock had previously closed at $602.31.

Analyst Ratings Changes

GEV has been the topic of several research analyst reports. Citigroup lifted their target price on GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. TD Cowen lifted their target price on GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research note on Friday, July 25th. The Goldman Sachs Group lifted their target price on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Guggenheim cut GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of GE Vernova in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $560.21.

GE Vernova Trading Down 3.0%

The company has a fifty day moving average price of $589.73 and a 200-day moving average price of $449.81. The firm has a market capitalization of $167.31 billion, a price-to-earnings ratio of 148.10, a price-to-earnings-growth ratio of 4.38 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same period in the previous year, the company earned $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, sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 7,590 shares of the company's stock, valued at $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in GE Vernova by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company's stock worth $13,051,258,000 after buying an additional 271,958 shares during the period. State Street Corp increased its position in GE Vernova by 1.9% in the 2nd quarter. State Street Corp now owns 11,097,778 shares of the company's stock worth $5,872,389,000 after buying an additional 206,650 shares during the period. Geode Capital Management LLC increased its position in GE Vernova by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company's stock worth $3,221,404,000 after buying an additional 129,315 shares during the period. Norges Bank bought a new position in GE Vernova in the 2nd quarter worth approximately $1,809,220,000. Finally, Goldman Sachs Group Inc. increased its position in shares of GE Vernova by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock valued at $955,513,000 after purchasing an additional 214,483 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.