GE Vernova (NYSE:GEV) Trading Up 2.4% on Analyst Upgrade

Shares of GE Vernova Inc. (NYSE:GEV) were up 2.4% during mid-day trading on Monday after HSBC raised their price target on the stock from $570.00 to $580.00. HSBC currently has a hold rating on the stock. GE Vernova traded as high as $600.26 and last traded at $595.83. Approximately 907,645 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 3,510,059 shares. The stock had previously closed at $582.08.

A number of other research analysts have also commented on the stock. Wolfe Research lowered shares of GE Vernova from an “outperform” rating to a “peer perform” rating in a research note on Friday, June 13th. Mizuho lowered shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 price target on the stock. in a research note on Monday, July 28th. Jefferies Financial Group lowered shares of GE Vernova from a “buy” rating to a “hold” rating and upped their price target for the company from $427.00 to $517.00 in a research note on Thursday, May 29th. Seaport Res Ptn upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, July 10th. Finally, Robert W. Baird upped their price target on shares of GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $573.75.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.15% of the company’s stock.

Institutional Trading of GE Vernova

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Sachetta LLC raised its stake in shares of GE Vernova by 10.7% during the second quarter. Sachetta LLC now owns 165 shares of the company’s stock valued at $87,000 after acquiring an additional 16 shares during the last quarter. Good Life Advisors LLC raised its stake in shares of GE Vernova by 1.0% during the second quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock valued at $875,000 after acquiring an additional 16 shares during the last quarter. Bell Investment Advisors Inc raised its stake in shares of GE Vernova by 6.7% during the second quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock valued at $135,000 after acquiring an additional 16 shares during the last quarter. AMG National Trust Bank raised its stake in shares of GE Vernova by 1.5% during the second quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock valued at $606,000 after acquiring an additional 17 shares during the last quarter. Finally, Graney & King LLC raised its stake in shares of GE Vernova by 2.4% during the second quarter. Graney & King LLC now owns 722 shares of the company’s stock valued at $382,000 after acquiring an additional 17 shares during the last quarter.

GE Vernova Stock Up 2.5%

The company’s 50 day moving average price is $597.95 and its 200-day moving average price is $458.69. The stock has a market cap of $162.37 billion, a P/E ratio of 143.57, a P/E/G ratio of 4.02 and a beta of 1.88.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.78 billion. During the same period in the prior year, the company posted $4.65 earnings per share. GE Vernova’s revenue for the quarter was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were given a dividend of $0.25 per share. The ex-dividend date was Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is 24.10%.

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.