GE Vernova (NYSE:GEV) Shares Up 1.6% – Should You Buy?

by · The Cerbat Gem

GE Vernova Inc. (NYSE:GEV – Get Free Report) shares traded up 1.6% during mid-day trading on Monday . The company traded as high as $695.05 and last traded at $682.1810. 3,508,592 shares changed hands during trading, an increase of 3% from the average session volume of 3,413,360 shares. The stock had previously closed at $671.71.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of GE Vernova from $697.00 to $717.00 and gave the company an “overweight” rating in a report on Friday, October 24th. HSBC increased their price objective on shares of GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research report on Friday, September 5th. Bank of America lifted their target price on shares of GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. BMO Capital Markets upped their price target on shares of GE Vernova from $710.00 to $780.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 10th. Finally, Barclays raised their price objective on GE Vernova from $710.00 to $720.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $662.15.

Get Our Latest Stock Analysis on GE Vernova

GE Vernova Stock Performance

The company’s fifty day simple moving average is $597.06 and its two-hundred day simple moving average is $583.51. The company has a market capitalization of $185.09 billion, a price-to-earnings ratio of 111.10, a price-to-earnings-growth ratio of 5.12 and a beta of 1.71.

GE Vernova (NYSE:GEV – Get Free Report) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). The company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.35) EPS. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, January 5th. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio is currently 16.29%.

Hedge Funds Weigh In On GE Vernova

A number of hedge funds have recently added to or reduced their stakes in GEV. Jackson Grant Investment Advisers Inc. boosted its holdings in shares of GE Vernova by 344.4% in the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after buying an additional 31 shares during the period. Wealth Watch Advisors INC acquired a new stake in GE Vernova during the third quarter worth about $25,000. WFA Asset Management Corp bought a new position in GE Vernova in the second quarter worth about $29,000. 1248 Management LLC acquired a new position in GE Vernova in the first quarter valued at approximately $31,000. Finally, Howard Hughes Medical Institute acquired a new position in GE Vernova in the second quarter valued at approximately $31,000.

GE Vernova Company Profile

(Get Free Report)

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.

Featured Stories