GE Vernova (NYSE:GEV) Trading Up 5.4% - Still a Buy?

Key Points

• GE Vernova shares rose 5.4% on Monday, trading as high as $1,111.73 and finishing near $1,101.11 on heavier-than-usual volume.
• Recent analyst activity remains mixed but generally positive: several firms maintained or raised bullish targets, and the stock currently carries a “Moderate Buy” consensus with an average price target of $1,089.88.
• The company posted a strong quarterly beat, reporting $17.44 EPS on $9.34 billion in revenue, and it also announced a $0.50 quarterly dividend payable July 14.

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s share price was up 5.4% on Monday . The company traded as high as $1,111.73 and last traded at $1,101.1070. Approximately 3,123,970 shares traded hands during trading, an increase of 11% from the average daily volume of 2,803,993 shares. The stock had previously closed at $1,045.17.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GEV shares. Jefferies Financial Group dropped their price objective on GE Vernova from $1,350.00 to $1,210.00 and set a "buy" rating for the company in a report on Thursday, June 11th. Wall Street Zen downgraded shares of GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday. Rothschild & Co Redburn raised GE Vernova from a "sell" rating to a "buy" rating and increased their target price for the stock from $560.00 to $1,100.00 in a research report on Monday, March 9th. Robert W. Baird upped their target price on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. increased their target price on GE Vernova from $1,000.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Thursday, April 16th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,089.88.

GE Vernova Stock Up 5.4%

The firm has a market cap of $295.89 billion, a PE ratio of 32.07, a PEG ratio of 3.87 and a beta of 1.24. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. The company's 50 day moving average price is $1,031.16 and its two-hundred day moving average price is $865.68.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.95 by $15.49. The company had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm's revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 EPS. On average, equities research analysts expect that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova's dividend payout ratio (DPR) is presently 5.83%.

Insider Transactions at GE Vernova

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the sale, the chief accounting officer directly owned 3,549 shares of the company's stock, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the transaction, the chief executive officer directly owned 1,835 shares of the company's stock, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company's stock.

Institutional Trading of GE Vernova

A number of institutional investors have recently bought and sold shares of GEV. Cornerstone Financial Management LLC purchased a new stake in shares of GE Vernova in the fourth quarter worth approximately $25,000. Wealth Watch Advisors INC purchased a new stake in GE Vernova during the third quarter worth $25,000. Torren Management LLC bought a new position in shares of GE Vernova in the 4th quarter worth $26,000. Manning & Napier Advisors LLC boosted its position in GE Vernova by 68.4% during the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock valued at $26,000 after purchasing an additional 13 shares in the last quarter. Finally, ORG Wealth Partners LLC grew its stake in GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company's stock valued at $27,000 after purchasing an additional 29 shares during the last quarter.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

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