GE Vernova (NYSE:GEV) Shares Up 7.4% – Should You Buy?

GE Vernova Inc. (NYSE:GEV) shot up 7.4% during trading on Wednesday . The stock traded as high as $600.00 and last traded at $596.1350. 3,893,099 shares changed hands during mid-day trading, an increase of 15% from the average session volume of 3,391,279 shares. The stock had previously closed at $554.93.

Wall Street Analyst Weigh In

GEV has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price target on shares of GE Vernova from $697.00 to $717.00 and gave the company an “overweight” rating in a research report on Friday, October 24th. Glj Research raised their target price on shares of GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Robert W. Baird lifted their target price on shares of GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Citigroup cut their price objective on GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. Finally, Barclays boosted their price objective on GE Vernova from $706.00 to $710.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $607.81.

GE Vernova Trading Up 7.4%

The stock has a market cap of $161.74 billion, a PE ratio of 97.09, a P/E/G ratio of 4.29 and a beta of 1.68. The company’s 50 day moving average is $599.38 and its 200-day moving average is $561.03.

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

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, October 20th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is 16.29%.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was 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 in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is currently owned by insiders.

Institutional Trading of GE Vernova

A number of hedge funds and other institutional investors have recently made changes to their positions in GEV. Jackson Grant Investment Advisers Inc. increased its position in shares of GE Vernova by 344.4% in the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares during the last quarter. Wealth Watch Advisors INC bought a new stake in GE Vernova in the third quarter valued at about $25,000. IMA Advisory Services Inc. bought a new stake in GE Vernova in the first quarter valued at about $27,000. WFA Asset Management Corp acquired a new stake in GE Vernova during the second quarter valued at approximately $29,000. Finally, 1248 Management LLC bought a new position in GE Vernova during the 1st quarter worth approximately $31,000.

About GE Vernova

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.