GE Vernova (NYSE:GEV) Shares Up 7.2% – Time to Buy?

GE Vernova Inc. (NYSE:GEV) shares shot up 7.2% during mid-day trading on Monday. The company traded as high as $836.93 and last traded at $829.4720. 4,284,373 shares traded hands during mid-day trading, an increase of 55% from the average daily volume of 2,769,002 shares. The stock had previously closed at $774.11.

Top GE Vernova Stories

These are some of the GEV stories that stood out recently:

• Positive Sentiment: J.P. Morgan says GE Vernova can withstand a slowdown in AI spending and maintained an “overweight” rating. It lowered its price target to $1,000 from $1,035, still implying substantial potential upside from the cited share price. J.P. Morgan on GE Vernova and AI spending
• Positive Sentiment: A report argues that investors may be overestimating GE Vernova’s exposure to AI: data centers account for only about 20% of its gas-turbine customers, leaving the company with demand sources beyond AI infrastructure. GE Vernova’s data-center customer exposure
• Negative Sentiment: Shares have faced pressure amid concerns about AI-power stocks. Those concerns intensified after SoftBank’s Ohio data-center project underwent a “thorough reassessment,” raising uncertainty about related power demand. SoftBank revises data-center project plans

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Oppenheimer restated an “outperform” rating on shares of GE Vernova in a report on Wednesday, October 28th. Weiss Ratings reissued a “buy (b)” rating on shares of GE Vernova in a research note on Monday, October 19th. Jefferies Financial Group restated a “buy” rating and issued a $1,100.00 target price on shares of GE Vernova in a research report on Thursday, October 29th. Susquehanna decreased their price target on GE Vernova from $1,270.00 to $1,250.00 and set a “positive” rating on the stock in a research note on Thursday, October 29th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $1,200.00 price target on shares of GE Vernova in a report on Thursday, October 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,143.03.

GE Vernova Trading Up 1.6%

The firm has a market capitalization of $214.28 billion, a PE ratio of 21.24, a PEG ratio of 2.70 and a beta of 1.25. The company’s 50-day moving average price is $919.64 and its 200-day moving average price is $946.09. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.62 and a current ratio of 0.83.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, October 28th. The company reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The company had revenue of $12.64 billion for the quarter, compared to analysts’ expectations of $11.99 billion. GE Vernova had a net margin of 23.54% and a return on equity of 46.50%. The firm’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter last year, the company earned $1.64 earnings per share. On average, sell-side analysts expect that GE Vernova Inc. will post 16.13 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, October 27th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, October 27th. GE Vernova’s payout ratio is presently 5.25%.

Institutional Trading of GE Vernova

Large investors have recently modified their holdings of the business. Patron Partners LLC raised its stake in GE Vernova by 4.3% during the third quarter. Patron Partners LLC now owns 2,180 shares of the company’s stock worth $2,072,000 after purchasing an additional 89 shares during the period. Advisors Asset Management Inc. purchased a new position in shares of GE Vernova in the 3rd quarter worth $97,148,000. Edmond DE Rothschild Holding S.A. boosted its holdings in GE Vernova by 116.5% in the third quarter. Edmond DE Rothschild Holding S.A. now owns 19,459 shares of the company’s stock valued at $18,496,000 after acquiring an additional 10,470 shares during the last quarter. Private Wealth Asset Management LLC raised its holdings in GE Vernova by 223.4% in the third quarter. Private Wealth Asset Management LLC now owns 3,451 shares of the company’s stock valued at $3,280,000 after buying an additional 2,384 shares during the period. Finally, USS Investment Management Ltd grew its stake in GE Vernova by 40.5% during the third quarter. USS Investment Management Ltd now owns 17,000 shares of the company’s stock worth $16,153,000 after buying an additional 4,900 shares during the period.

About GE Vernova

GE Vernova is an energy technology company that designs, manufactures and services equipment used to generate, transmit and distribute electricity. It became an independent public company in April 2024 after separating from General Electric, which had built its energy businesses over more than a century. The company operates through three main businesses: Power, Wind and Electrification. Its offerings include gas and steam turbines, hydropower technologies and related services; onshore and offshore wind turbines; and grid equipment, power-conversion systems and software used to support electricity networks.