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

Shares of GE Vernova Inc. (NYSE:GEV) hit a new 52-week high on Wednesday . The stock traded as high as $655.65 and last traded at $632.80, with a volume of 2747715 shares trading hands. The stock had previously closed at $647.66.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of GE Vernova from $500.00 to $570.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Wells Fargo & Company boosted their target price on shares of GE Vernova from $474.00 to $697.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Wall Street Zen downgraded shares of GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday. Mizuho downgraded shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 target price for the company. in a research note on Monday. Finally, Seaport Res Ptn raised shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, July 10th. Ten analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $560.21.

GE Vernova Price Performance

The company’s 50-day simple moving average is $518.51 and its 200-day simple moving average is $410.15. The company has a market cap of $172.26 billion, a price-to-earnings ratio of 152.48, a P/E/G ratio of 4.48 and a beta of 1.86.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter last year, the company earned $4.65 earnings per share. GE Vernova’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.16%. The ex-dividend date is Monday, July 21st. GE Vernova’s dividend payout ratio (DPR) is 24.10%.

Institutional Trading of GE Vernova

Several large investors have recently bought and sold shares of GEV. Capital International Investors grew its position in GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock valued at $4,886,164,000 after acquiring an additional 2,994,660 shares in the last quarter. GAMMA Investing LLC grew its position in shares of GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company’s stock worth $653,769,000 after buying an additional 2,135,066 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of GE Vernova by 1,638.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock worth $432,309,000 after buying an additional 1,238,690 shares in the last quarter. AQR Capital Management LLC grew its position in shares of GE Vernova by 252.9% during the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock worth $366,016,000 after buying an additional 892,549 shares in the last quarter. Finally, Amundi grew its position in shares of GE Vernova by 109.0% during the first quarter. Amundi now owns 1,665,980 shares of the company’s stock worth $496,013,000 after buying an additional 868,927 shares in the last quarter.

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.