GE Vernova (NYSE:GEV) Reaches New 52-Week High – Still a Buy?

GE Vernova Inc. (NYSE:GEV) reached a new 52-week high during trading on Monday . The company traded as high as $1,191.99 and last traded at $1,189.2470, with a volume of 394327 shares trading hands. The stock had previously closed at $1,113.11.

Analyst Ratings Changes

GEV has been the subject of several recent research reports. Rothschild & Co Redburn raised GE Vernova from a “sell” rating to a “buy” rating and increased their price target for the company from $560.00 to $1,100.00 in a research note on Monday, March 9th. Susquehanna set a $1,300.00 target price on GE Vernova in a report on Thursday, April 23rd. BNP Paribas Exane downgraded shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 target price for the company. in a research report on Monday, April 27th. Weiss Ratings raised shares of GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, TD Cowen raised their price target on shares of GE Vernova from $780.00 to $1,220.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Three analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $1,089.88.

GE Vernova Price Performance

The stock has a market capitalization of $315.24 billion, a P/E ratio of 34.26, a PEG ratio of 4.11 and a beta of 1.09. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The business has a fifty day simple moving average of $1,042.04 and a 200-day simple moving average of $881.37.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the previous year, the business posted $0.91 EPS. GE Vernova’s revenue for the quarter was up 17.0% compared to the same quarter last year. Sell-side analysts expect that GE Vernova Inc. will post 15.05 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova’s payout ratio is 5.83%.

Insider Buying and Selling at GE Vernova

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the 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 transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This represents a 39.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Silverleafe Capital Partners LLC increased its holdings in shares of GE Vernova by 7.1% during the second quarter. Silverleafe Capital Partners LLC now owns 2,441 shares of the company’s stock valued at $2,868,000 after acquiring an additional 161 shares in the last quarter. Hilltop National Bank lifted its holdings in shares of GE Vernova by 22.3% in the 2nd quarter. Hilltop National Bank now owns 510 shares of the company’s stock worth $599,000 after purchasing an additional 93 shares in the last quarter. PVG Asset Management Corp lifted its holdings in shares of GE Vernova by 5.6% in the 2nd quarter. PVG Asset Management Corp now owns 3,579 shares of the company’s stock worth $4,204,000 after purchasing an additional 190 shares in the last quarter. Miller Global Investments LLC grew its position in GE Vernova by 63.6% in the 2nd quarter. Miller Global Investments LLC now owns 36 shares of the company’s stock valued at $42,000 after purchasing an additional 14 shares during the period. Finally, Eastern Bank grew its position in GE Vernova by 5.9% in the 2nd quarter. Eastern Bank now owns 3,340 shares of the company’s stock valued at $3,924,000 after purchasing an additional 186 shares during the period.

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.