GE Vernova (NYSE:GEV) Trading Up 4.3% – Still a Buy?

Shares of GE Vernova Inc. (NYSE:GEV) shot up 4.3% during mid-day trading on Monday . The company traded as high as $583.00 and last traded at $579.70. 2,722,386 shares changed hands during trading, a decline of 20% from the average session volume of 3,402,637 shares. The stock had previously closed at $555.84.

Analyst Upgrades and Downgrades

GEV has been the subject of several analyst reports. Royal Bank Of Canada increased their price objective on GE Vernova from $605.00 to $630.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. Jefferies Financial Group reiterated a “hold” rating and set a $654.00 price target on shares of GE Vernova in a report on Monday, October 27th. Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective on the stock in a research note on Monday, September 15th. Susquehanna lifted their price objective on shares of GE Vernova from $740.00 to $750.00 and gave the stock a “positive” rating in a report on Thursday, October 23rd. Finally, Melius Research set a $740.00 target price on shares of GE Vernova and gave the stock a “buy” rating in a research note on Monday, September 15th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $607.81.

GE Vernova Price Performance

The stock has a fifty day moving average of $594.55 and a 200 day moving average of $565.87. The firm has a market capitalization of $157.28 billion, a P/E ratio of 94.41, a price-to-earnings-growth ratio of 4.13 and a beta of 1.69.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). The business had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, October 20th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s payout ratio is currently 16.29%.

Insiders Place Their Bets

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GE Vernova

Several institutional investors have recently bought and sold shares of GEV. Jackson Grant Investment Advisers Inc. grew its stake in shares of GE Vernova by 344.4% during 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 purchased a new stake in GE Vernova during the third quarter valued at about $25,000. WFA Asset Management Corp bought a new position in GE Vernova during the second quarter worth about $29,000. 1248 Management LLC purchased a new position in shares of GE Vernova in the first quarter worth about $31,000. Finally, Howard Hughes Medical Institute bought a new stake in shares of GE Vernova in the second quarter valued at approximately $31,000.

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.