GE Vernova (NYSE:GEV) Trading Up 1.9% – Should You Buy?

GE Vernova Inc. (NYSE:GEV) shares were up 1.9% during trading on Monday . The stock traded as high as $1,012.74 and last traded at $1,008.7120. 2,002,144 shares changed hands during trading, a decline of 29% from the average session volume of 2,825,316 shares. The stock had previously closed at $990.29.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GEV shares. TD Cowen lifted their price objective on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Monday. Mizuho raised their target price on GE Vernova from $913.00 to $949.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Argus set a $1,300.00 target price on GE Vernova in a report on Monday, April 27th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of GE Vernova in a research report on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,133.15.

GE Vernova Stock Performance

The company has a market cap of $275.05 billion, a P/E ratio of 29.55, a price-to-earnings-growth ratio of 3.62 and a beta of 1.21. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The stock’s 50-day moving average price is $1,026.39 and its 200 day moving average price is $939.98.

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 analysts’ consensus estimates of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. During the same quarter in the previous year, the firm posted $1.86 earnings per share. GE Vernova’s quarterly revenue was up 21.9% compared to the same quarter last year. As a group, research analysts expect that GE Vernova Inc. will post 15.46 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s payout ratio is currently 5.72%.

Insider Transactions at GE Vernova

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the sale, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by corporate insiders.

Institutional Trading of GE Vernova

Several hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after acquiring an additional 753 shares during the period. Schnieders Capital Management LLC. grew its stake in shares of GE Vernova by 1.7% in the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock worth $828,000 after acquiring an additional 26 shares during the last quarter. Jump Financial LLC bought a new position in GE Vernova during the second quarter worth $258,000. Ossiam bought a new position in GE Vernova during the second quarter worth $42,000. Finally, Nebula Research & Development LLC raised its stake in GE Vernova by 23.9% during the 2nd quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock valued at $886,000 after purchasing an additional 323 shares during the last quarter.

GE Vernova Company Profile

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.