GE Vernova (NYSE:GEV) Trading 1.3% Higher – What’s Next?

GE Vernova Inc. (NYSE:GEV)’s share price shot up 1.3% on Friday . The stock traded as high as $599.77 and last traded at $597.59. 1,006,547 shares were traded during mid-day trading, a decline of 70% from the average session volume of 3,382,808 shares. The stock had previously closed at $589.72.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on GEV shares. TD Cowen dropped their target price on GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $715.00 to $740.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Jefferies Financial Group reissued a “hold” rating and issued a $654.00 price objective on shares of GE Vernova in a research report on Monday, October 27th. UBS Group set a $710.00 target price on shares of GE Vernova in a research report on Thursday, October 23rd. Finally, Susquehanna increased their price objective on shares of GE Vernova from $740.00 to $750.00 and gave the stock a “positive” rating in a research note on Thursday, October 23rd. Four investment 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $607.81.

GE Vernova Price Performance

The stock has a market capitalization of $162.14 billion, a P/E ratio of 97.33, a PEG ratio of 4.39 and a beta of 1.68. The stock’s 50-day simple moving average is $592.71 and its 200 day simple moving average is $567.42.

GE Vernova (NYSE:GEV) last released its quarterly 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). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same period in the previous year, the business posted ($0.35) earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

Hedge Funds Weigh In On GE Vernova

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Jackson Grant Investment Advisers Inc. grew its position in shares of GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares in the last quarter. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova in the third quarter worth approximately $25,000. WFA Asset Management Corp bought a new stake in shares of GE Vernova during the 2nd quarter valued at about $29,000. 1248 Management LLC purchased a new position in GE Vernova during the first quarter valued at $31,000. Finally, Howard Hughes Medical Institute bought a new stake in shares of GE Vernova during the 2nd quarter valued at $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.