GE Vernova (NYSE:GEV) Trading 3% Higher - Still a Buy?

Key Points

• GE Vernova shares rose 3% to about $970.55, though trading volume was 37% below the average daily level.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $1,155.28; however, one firm downgraded the stock to “Hold.”
• The company delivered strong revenue growth of 21.9% year over year to $11.10 billion, but quarterly EPS of $2.47 fell short of the $3.17 consensus estimate.

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s share price shot up 3% during trading on Tuesday . The stock traded as high as $974.20 and last traded at $970.55. 1,693,984 shares changed hands during trading, a decline of 37% from the average daily volume of 2,704,283 shares. The stock had previously closed at $941.95.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of research analyst reports. Wall Street Zen lowered GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. William Blair reissued an "outperform" rating on shares of GE Vernova in a research note on Monday, August 3rd. TD Cowen raised their target price on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. Sanford C. Bernstein lifted their price target on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the company an "outperform" rating in a research note on Thursday, July 23rd. Finally, Royal Bank Of Canada upped their price target on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and an average target price of $1,155.28.

GE Vernova Price Performance

The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The company has a 50 day simple moving average of $1,013.77 and a 200 day simple moving average of $980.46. The stock has a market cap of $258.49 billion, a P/E ratio of 27.78, a PEG ratio of 4.38 and a beta of 1.15.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 EPS 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 business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. During the same period in the prior year, the firm earned $1.86 EPS. The business's revenue for the quarter was up 21.9% compared to the same quarter last year. Sell-side analysts forecast that GE Vernova Inc. will post 15.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. California State Teachers Retirement System raised its position in GE Vernova by 116,092.4% during the second quarter. California State Teachers Retirement System now owns 483,330,355 shares of the company's stock worth $567,845,501,000 after acquiring an additional 482,914,381 shares in the last quarter. Auto Owners Insurance Co grew its position in shares of GE Vernova by 110,973.4% in the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company's stock valued at $2,278,224,000 after acquiring an additional 34,826,773 shares during the period. BlackRock Inc. acquired a new position in shares of GE Vernova during the 2nd quarter worth about $25,569,630,000. State Street Corp raised its holdings in shares of GE Vernova by 2.1% in the 4th quarter. State Street Corp now owns 11,469,670 shares of the company's stock valued at $7,496,232,000 after purchasing an additional 231,392 shares during the period. Finally, Geode Capital Management LLC lifted its stake in GE Vernova by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company's stock valued at $4,074,039,000 after purchasing an additional 68,894 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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