GE Vernova (NYSE:GEV) Stock Price Up 0.2% – What’s Next?

GE Vernova Inc. (NYSE:GEV)’s share price shot up 0.2% during mid-day trading on Wednesday . The company traded as high as $373.98 and last traded at $373.55. 629,285 shares were traded during trading, a decline of 83% from the average session volume of 3,785,879 shares. The stock had previously closed at $372.90.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GEV shares. JPMorgan Chase & Co. increased their price target on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a report on Friday, January 24th. TD Cowen initiated coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $453.00 price objective on shares of GE Vernova in a research report on Tuesday, January 28th. Finally, Jefferies Financial Group boosted their target price on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $346.22.

GE Vernova Stock Performance

The firm has a fifty day simple moving average of $360.36 and a 200-day simple moving average of $290.17. The company has a market capitalization of $102.87 billion and a PE ratio of 67.12.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova’s payout ratio is currently 17.99%.

GE Vernova declared that its Board of Directors has approved a stock repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Trading of GE Vernova

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Waverton Investment Management Ltd grew its position in shares of GE Vernova by 10.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock worth $185,459,000 after acquiring an additional 66,455 shares in the last quarter. Register Financial Advisors LLC bought a new position in GE Vernova during the fourth quarter worth $206,000. Hanlon Investment Management Inc. acquired a new position in GE Vernova in the third quarter worth $1,101,000. Atria Investments Inc increased its stake in GE Vernova by 127.0% during the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after purchasing an additional 2,847 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC increased its stake in GE Vernova by 1,126.0% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after purchasing an additional 822 shares during the last quarter.

GE Vernova Company Profile

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.