GE Vernova (NYSE:GEV) Shares Up 3.1% – Still a Buy?

Shares of GE Vernova Inc. (NYSE:GEV) traded up 3.1% during trading on Wednesday . The stock traded as high as $596.98 and last traded at $590.3770. 2,220,585 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 3,393,210 shares. The stock had previously closed at $572.56.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. UBS Group set a $710.00 price target on shares of GE Vernova in a research note on Thursday, October 23rd. Wells Fargo & Company raised their target price on GE Vernova from $697.00 to $717.00 and gave the company an “overweight” rating in a report on Friday, October 24th. HSBC boosted their price target on GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research report on Friday, September 5th. Morgan Stanley increased their price objective on GE Vernova from $690.00 to $710.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Redburn Partners set a $475.00 target price on GE Vernova in a report on Wednesday, October 15th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $607.81.

GE Vernova Price Performance

The firm has a market capitalization of $162.14 billion, a P/E ratio of 97.33, a price-to-earnings-growth ratio of 4.39 and a beta of 1.68. The business has a 50 day moving average price of $592.71 and a 200 day moving average price of $567.42.

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

GE Vernova Dividend Announcement

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

Institutional Trading of GE Vernova

A number of hedge funds have recently bought and sold shares of GEV. Sachetta LLC grew its position in GE Vernova by 10.7% during the second quarter. Sachetta LLC now owns 165 shares of the company’s stock worth $87,000 after buying an additional 16 shares in the last quarter. Good Life Advisors LLC lifted its position in shares of GE Vernova by 1.0% in the 2nd quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock worth $875,000 after acquiring an additional 16 shares during the period. Bell Investment Advisors Inc grew its holdings in shares of GE Vernova by 6.7% during the 2nd quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock worth $135,000 after purchasing an additional 16 shares in the last quarter. Northwest Wealth Management LLC grew its holdings in shares of GE Vernova by 3.6% during the 3rd quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock worth $286,000 after purchasing an additional 16 shares in the last quarter. Finally, AMG National Trust Bank increased its position in shares of GE Vernova by 1.5% during the second quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock valued at $606,000 after purchasing an additional 17 shares during the period.

GE Vernova Company Profile

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.