GE Vernova (NYSE:GEV) Stock Price Up 3.9% - Should You Buy?

Key Points

• GE Vernova shares rose 3.9% to about $1,028.71, with roughly 2.5 million shares traded. The stock’s average analyst rating is “Moderate Buy,” with a consensus price target of $1,171.87.
• Analysts remain broadly optimistic, though price targets were mixed: RBC and Oppenheimer raised their targets, while Citigroup and BNP Paribas Exane lowered theirs. The company’s latest quarter showed 21.9% year-over-year revenue growth to $11.10 billion but EPS of $2.47 missed estimates.
• GE Vernova declared a quarterly dividend of $0.50 per share, equivalent to a $2.00 annualized payout and a 0.2% yield. Institutional investors including BlackRock, State Street and Bank of America hold substantial positions in the company.

Shares of GE Vernova Inc. (NYSE:GEV - Get Free Report) rose 3.9% on Tuesday. The company traded as high as $1,052.78 and last traded at $1,028.7110. Approximately 2,514,373 shares changed hands during trading, a decline of 5% from the average session volume of 2,653,967 shares. The stock had previously closed at $990.00.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Royal Bank Of Canada boosted their price objective on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Oppenheimer increased their price objective on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Citigroup dropped their price objective on shares of GE Vernova from $1,219.00 to $1,125.00 and set a "neutral" rating on the stock in a research note on Thursday, July 23rd. BNP Paribas Exane cut their price objective on GE Vernova from $1,190.00 to $1,090.00 and set a "neutral" rating for the company in a research report on Thursday, August 20th. Finally, William Blair reiterated an "outperform" rating on shares of GE Vernova in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $1,171.87.

GE Vernova Trading Up 3.9%

The business has a fifty day moving average price of $963.54 and a two-hundred day moving average price of $995.50. The firm has a market capitalization of $273.98 billion, a PE ratio of 29.44, a PEG ratio of 3.35 and a beta of 1.14. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing analysts' consensus estimates of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The company had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.79 billion. During the same period in the previous year, the business posted $1.86 EPS. The business's revenue for the quarter was up 21.9% on a year-over-year basis. Analysts expect that GE Vernova Inc. will post 15.38 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Tuesday, October 27th 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, October 27th. GE Vernova's dividend payout ratio is presently 5.72%.

Institutional Investors Weigh In On GE Vernova

A number of hedge funds have recently bought and sold shares of the stock. Auto Owners Insurance Co lifted its stake in GE Vernova by 110,973.4% during the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company's stock worth $2,278,224,000 after purchasing an additional 34,826,773 shares during the last quarter. BlackRock Inc. purchased a new position in shares of GE Vernova during the second quarter worth about $25,569,630,000. State Street Corp grew its stake in shares of GE Vernova by 3.3% in the 2nd quarter. State Street Corp now owns 11,765,340 shares of the company's stock valued at $13,828,380,000 after purchasing an additional 370,842 shares during the last quarter. Bank of America Corp DE increased its stake in GE Vernova by 20.1% in the 1st quarter. Bank of America Corp DE now owns 2,598,178 shares of the company's stock valued at $2,267,949,000 after buying an additional 435,405 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in GE Vernova during the second quarter worth about $2,497,472,000.

GE Vernova Company Profile

GE Vernova Inc NYSE: GEV is an energy technology company formed through the separation of General Electric's energy businesses in April 2024. The company is focused on helping generate, transmit, distribute and store electricity as power systems adapt to rising demand and the transition toward lower-carbon energy sources.

GE Vernova operates across three principal business areas: Power, Wind and Electrification. Its products and services include gas and steam power generation equipment, nuclear and hydropower technologies, onshore and offshore wind turbines, wind services, grid equipment, electrification systems, energy storage solutions and software used to monitor and manage energy infrastructure.

The company serves utilities, independent power producers, industrial customers and other energy-sector organizations in markets around the world.

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