GE Vernova (NYSE:GEV) Shares Gap Up – Here’s What Happened

GE Vernova Inc. (NYSE:GEV) gapped up before the market opened on Thursday . The stock had previously closed at $614.19, but opened at $649.30. GE Vernova shares last traded at $644.0550, with a volume of 1,020,834 shares traded.

Analyst Ratings Changes

A number of analysts have commented on the stock. Melius Research set a $740.00 price target on shares of GE Vernova and gave the company a “buy” rating in a research note on Monday, September 15th. Rothschild & Co Redburn reiterated a “sell” rating and issued a $475.00 target price on shares of GE Vernova in a research note on Wednesday, October 15th. Mizuho reduced their price target on GE Vernova from $677.00 to $660.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Barclays upped their price objective on GE Vernova from $710.00 to $720.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Finally, Cowen restated a “buy” rating on shares of GE Vernova in a research note on Thursday, October 23rd. Four analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $690.56.

GE Vernova Price Performance

The company has a market cap of $176.78 billion, a P/E ratio of 106.12, a PEG ratio of 5.23 and a beta of 1.71. The stock has a 50-day moving average of $600.06 and a 200 day moving average of $586.71.

GE Vernova (NYSE:GEV) last released its 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). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The firm had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the prior year, the business earned ($0.35) earnings per share. GE Vernova’s quarterly revenue was up 11.8% compared to the same quarter last year. Sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

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

Institutional Trading of GE Vernova

Several institutional investors and hedge funds have recently modified their holdings of GEV. Brighton Jones LLC raised its stake in GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after acquiring an additional 753 shares in the last quarter. Aptus Capital Advisors LLC increased its position in GE Vernova by 16.2% during the 1st quarter. Aptus Capital Advisors LLC now owns 3,742 shares of the company’s stock worth $1,142,000 after purchasing an additional 521 shares in the last quarter. Colonial Trust Advisors lifted its stake in GE Vernova by 5.3% in the 1st quarter. Colonial Trust Advisors now owns 1,366 shares of the company’s stock valued at $417,000 after purchasing an additional 69 shares during the last quarter. Legacy Financial Advisors Inc. lifted its stake in GE Vernova by 2.5% in the 1st quarter. Legacy Financial Advisors Inc. now owns 2,106 shares of the company’s stock valued at $643,000 after purchasing an additional 51 shares during the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. boosted its position in GE Vernova by 12.9% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 6,407 shares of the company’s stock valued at $1,954,000 after buying an additional 733 shares in the last quarter.

About GE Vernova

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.