GE Vernova Inc. (NYSE:GEV – Get Free Report) was down 1.8% on Monday . The stock traded as low as $939.00 and last traded at $950.6480. Approximately 2,650,325 shares traded hands during mid-day trading, a decline of 2% from the average daily volume of 2,713,836 shares. The stock had previously closed at $968.32.
Key Headlines Impacting GE Vernova
Here are the key news stories impacting GE Vernova this week:
- Positive Sentiment: Jim Cramer called GE Vernova “absolutely terrific,” which may be boosting investor sentiment by reinforcing the bullish case for the stock. Jim Cramer Believes “GE Vernova Is Absolutely Terrific”
- Positive Sentiment: Wells Fargo reiterated a Buy rating on GE Vernova, and brokerage sentiment remains constructive with an average “Moderate Buy” recommendation. Wells Fargo Remains a Buy on GE Vernova Inc. (GEV)
- Positive Sentiment: GE Vernova announced the acquisition of Robotech Automation, a move that could strengthen its robotics and automation capabilities and improve manufacturing and grid solutions efficiency. GE Vernova Acquires Robotech Automation to Accelerate Robotics and Automation Capabilities
- Neutral Sentiment: GE Vernova’s CEO flagged challenges affecting data center builds, including tariffs and state-level pushback, which adds uncertainty but does not yet appear to be a direct earnings warning. GE Vernova CEO highlights challenges complicating data center builds
- Negative Sentiment: Some recent coverage noted the stock had pulled back from its highs, suggesting traders may be reassessing valuation after a strong run. GE Vernova Robotech Deal Puts Automation And Valuation In Fresh Focus
Analyst Ratings Changes
A number of brokerages have commented on GEV. Jefferies Financial Group raised their price target on shares of GE Vernova from $965.00 to $1,350.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. BNP Paribas Exane cut shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target for the company. in a research note on Monday, April 27th. Susquehanna set a $1,300.00 price target on shares of GE Vernova in a research note on Thursday, April 23rd. Royal Bank Of Canada raised their price objective on shares of GE Vernova from $996.00 to $1,195.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Finally, Barclays raised their price objective on shares of GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $1,090.76.
GE Vernova Trading Down 1.8%
The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The firm has a market cap of $255.46 billion, a price-to-earnings ratio of 27.69, a price-to-earnings-growth ratio of 3.63 and a beta of 1.24. The business’s fifty day moving average is $996.99 and its two-hundred day moving average is $807.91.
GE Vernova (NYSE:GEV – Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $15.49. The business had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. GE Vernova’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 earnings per share. Equities analysts anticipate that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.
GE Vernova Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 5.83%.
Insider Buying and Selling
In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the sale, the chief accounting officer owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.21% of the company’s stock.
Institutional Trading of GE Vernova
A number of institutional investors have recently bought and sold shares of GEV. Jackson Grant Investment Advisers Inc. grew its holdings in GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after acquiring an additional 31 shares during the period. Cornerstone Financial Management LLC bought a new position in shares of GE Vernova during the fourth quarter worth $25,000. Wealth Watch Advisors INC bought a new position in shares of GE Vernova during the third quarter worth $25,000. Torren Management LLC bought a new position in shares of GE Vernova during the fourth quarter worth $26,000. Finally, Manning & Napier Advisors LLC boosted its position in shares of GE Vernova by 68.4% during the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after purchasing an additional 13 shares in the last quarter.
About GE Vernova
GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.
The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.
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