GE Vernova (NYSE:GEV) Stock Price Up 2.1% – Still a Buy?

GE Vernova Inc. (NYSE:GEV) traded up 2.1% during mid-day trading on Friday . The stock traded as high as $1,069.11 and last traded at $1,058.4370. Approximately 3,236,639 shares traded hands during trading, an increase of 16% from the average session volume of 2,790,586 shares. The stock had previously closed at $1,036.22.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GEV shares. Morgan Stanley raised their price objective on shares of GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a research report on Monday, March 23rd. Guggenheim upped their target price on shares of GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. The Goldman Sachs Group reissued a “buy” rating and set a $1,328.00 price target on shares of GE Vernova in a research note on Friday, April 24th. Oppenheimer set a $1,303.00 price target on shares of GE Vernova in a report on Thursday, April 23rd. Finally, TD Cowen boosted their price objective on shares of GE Vernova from $780.00 to $1,220.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,089.88.

GE Vernova Stock Performance

The firm has a fifty day moving average of $1,037.19 and a 200-day moving average of $907.82. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The firm has a market cap of $284.42 billion, a P/E ratio of 30.83, a PEG ratio of 3.89 and a beta of 1.09.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping the consensus estimate of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the previous year, the business posted $0.91 EPS. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. Research analysts predict that GE Vernova Inc. will post 15.06 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 16th. GE Vernova’s payout ratio is 5.83%.

Insider Activity at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GEV. Auto Owners Insurance Co lifted its stake in GE Vernova by 110,973.4% in the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after buying an additional 34,826,773 shares during the period. Vanguard Group Inc. increased its stake in shares of GE Vernova by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock valued at $16,354,691,000 after acquiring an additional 208,162 shares during the last quarter. State Street Corp raised its position in shares of GE Vernova by 2.1% in the 4th quarter. State Street Corp now owns 11,469,670 shares of the company’s stock valued at $7,496,232,000 after acquiring an additional 231,392 shares during the period. Geode Capital Management LLC raised its position in shares of GE Vernova by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock valued at $4,074,039,000 after acquiring an additional 68,894 shares during the period. Finally, Morgan Stanley raised its position in shares of GE Vernova by 12.8% in the 4th quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock valued at $3,957,024,000 after acquiring an additional 685,466 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.