GE Vernova (NYSE:GEV) Shares Up 3.5% – Here’s Why

Shares of GE Vernova Inc. (NYSE:GEV) traded up 3.5% on Friday . The company traded as high as $962.21 and last traded at $956.3150. Approximately 1,174,013 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 2,682,647 shares. The stock had previously closed at $923.91.

Wall Street Analyst Weigh In

GEV has been the topic of a number of research analyst reports. Royal Bank Of Canada increased their price target on GE Vernova from $1,195.00 to $1,225.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Oppenheimer boosted their target price on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. TD Cowen raised their price target 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. Jefferies Financial Group set a $1,185.00 price objective on shares of GE Vernova in a report on Friday. Finally, Mizuho increased their price objective on shares of GE Vernova from $913.00 to $949.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,154.28.

GE Vernova Stock Up 3.5%

The company has a market cap of $254.70 billion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 4.45 and a beta of 1.15. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The stock has a fifty day moving average price of $999.15 and a two-hundred day moving average price of $982.84.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. During the same quarter last year, the business posted $1.86 earnings per share. GE Vernova’s revenue was up 21.9% on a year-over-year basis. On average, research analysts expect that GE Vernova Inc. will post 15.36 EPS for the current year.

Institutional Investors Weigh In On GE Vernova

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cornerstone Financial Management LLC purchased a new stake in GE Vernova during the fourth quarter valued at about $25,000. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova in the third quarter valued at approximately $25,000. Manning & Napier Advisors LLC raised its position in shares of GE Vernova by 68.4% in 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 during the period. Commonwealth Retirement Investments LLC purchased a new stake in shares of GE Vernova during the 4th quarter valued at approximately $30,000. Finally, Entelevest LLC purchased a new stake in shares of GE Vernova during the 4th quarter valued at approximately $30,000.

GE Vernova Company Profile

GE Vernova Inc (NYSE: GEV) is an energy technology company that provides equipment, software and services for electricity generation, transmission and distribution. Its portfolio is designed to support power systems across a range of energy sources, including natural gas, nuclear, hydroelectric, wind and solar power, as well as battery storage.

The company operates through three primary businesses: Power, Wind and Electrification. Power supplies gas and steam turbines, generators, nuclear power technologies, hydroelectric equipment and related maintenance services.