GE Vernova (NYSE:GEV) Shares Climb 1.5% – Should You Buy?

GE Vernova Inc. (NYSE:GEV) was up 1.5% during mid-day trading on Tuesday. The company traded as high as $973.41 and last traded at $963.8530. 1,435,857 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 2,665,511 shares. The stock had previously closed at $949.77.

Analysts Set New Price Targets

GEV has been the topic of several recent analyst reports. Wall Street Zen downgraded GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. The Goldman Sachs Group upgraded GE Vernova from a “buy” rating to a “market outperform” rating in a research report on Monday, September 14th. BNP Paribas Exane cut their price objective on shares of GE Vernova from $1,190.00 to $1,090.00 and set a “neutral” rating on the stock in a research report on Thursday, August 20th. Citigroup lowered their target price on shares of GE Vernova from $1,219.00 to $1,125.00 and set a “neutral” rating for the company in a report on Thursday, July 23rd. Finally, BMO Capital Markets restated an “outperform” rating and set a $1,250.00 price objective (up from $1,110.00) on shares of GE Vernova in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,171.87.

GE Vernova Price Performance

The firm has a market capitalization of $256.70 billion, a PE ratio of 27.59, a P/E/G ratio of 4.45 and a beta of 1.15. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. The stock has a fifty day moving average price of $968.09 and a 200-day moving average price of $990.35.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). The firm had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.86 earnings per share. Sell-side analysts forecast that GE Vernova Inc. will post 15.36 EPS for the current fiscal year.

Hedge Funds Weigh In On GE Vernova

Institutional investors and hedge funds have recently bought and sold shares of the company. Parvin Asset Management LLC acquired a new stake in shares of GE Vernova in the 2nd quarter worth $32,000. Pingora Partners LLC purchased a new stake in GE Vernova in the second quarter valued at about $36,000. Manning & Napier Advisors LLC raised its stake in GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after buying an additional 13 shares during the last quarter. IMG Wealth Management Inc. acquired a new stake in GE Vernova in the second quarter worth about $39,000. Finally, Miller Global Investments LLC grew its stake in shares of GE Vernova by 63.6% during the second quarter. Miller Global Investments LLC now owns 36 shares of the company’s stock worth $42,000 after acquiring an additional 14 shares during the last quarter.

GE Vernova Company Profile

GE Vernova Inc (NYSE: GEV) is an energy technology company formed through the separation of General Electric’s energy businesses in April 2024. The company is focused on helping generate, transmit, distribute and store electricity as power systems adapt to rising demand and the transition toward lower-carbon energy sources.

GE Vernova operates across three principal business areas: Power, Wind and Electrification. Its products and services include gas and steam power generation equipment, nuclear and hydropower technologies, onshore and offshore wind turbines, wind services, grid equipment, electrification systems, energy storage solutions and software used to monitor and manage energy infrastructure.

The company serves utilities, independent power producers, industrial customers and other energy-sector organizations in markets around the world.