GE Vernova (NYSE:GEV) Shares Up 4.4% After Analyst Upgrade

GE Vernova Inc. (NYSE:GEV) was up 4.4% during mid-day trading on Monday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The company traded as high as $762.36 and last traded at $758.0570. Approximately 3,828,209 shares traded hands during trading, an increase of 17% from the average daily volume of 3,271,615 shares. The stock had previously closed at $726.37.

A number of other research firms have also recently commented on GEV. BMO Capital Markets reiterated an “outperform” rating and set a $785.00 target price on shares of GE Vernova in a research report on Thursday. China Renaissance raised shares of GE Vernova to a “strong-buy” rating in a report on Thursday. Redburn Partners set a $475.00 price objective on shares of GE Vernova in a research report on Wednesday, October 15th. Rothschild Redb cut shares of GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Finally, Rothschild & Co Redburn reiterated a “sell” rating and set a $475.00 target price on shares of GE Vernova in a research note on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $752.96.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jackson Grant Investment Advisers Inc. grew 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 worth $25,000 after acquiring an additional 31 shares during the period. Wealth Watch Advisors INC acquired a new stake in GE Vernova in the third quarter valued at $25,000. Torren Management LLC purchased a new position in shares of GE Vernova in the fourth quarter valued at $26,000. ORG Wealth Partners LLC raised its stake in shares of GE Vernova by 241.7% during the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after buying an additional 29 shares during the last quarter. Finally, WFA Asset Management Corp purchased a new stake in shares of GE Vernova in the 2nd quarter worth about $29,000.

GE Vernova Trading Up 4.4%

The stock has a market capitalization of $204.32 billion, a price-to-earnings ratio of 42.59, a PEG ratio of 3.03 and a beta of 1.67. The stock’s 50 day moving average is $652.63 and its 200 day moving average is $623.16.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $10.40. The firm had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.73 EPS. On average, 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 announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be issued a $0.50 dividend. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. GE Vernova’s payout ratio is currently 11.24%.

About GE Vernova

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.