GE Vernova (NYSE:GEV) Trading Up 1.5% – What’s Next?

GE Vernova Inc. (NYSE:GEV) traded up 1.5% during trading on Wednesday . The stock traded as high as $880.21 and last traded at $856.8050. 2,184,839 shares traded hands during trading, a decline of 24% from the average session volume of 2,869,762 shares. The stock had previously closed at $844.05.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GEV shares. Erste Group Bank initiated coverage on shares of GE Vernova in a research note on Thursday, March 5th. They set a “buy” rating on the stock. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 10th. Wall Street Zen raised GE Vernova from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Weiss Ratings raised shares of GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. Finally, Susquehanna increased their price target on GE Vernova from $800.00 to $820.00 and gave the stock a “positive” rating in a research note on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $831.29.

GE Vernova Stock Up 1.5%

The company has a market capitalization of $230.93 billion, a P/E ratio of 48.14, a PEG ratio of 3.29 and a beta of 1.44. The stock has a fifty day simple moving average of $765.97 and a 200-day simple moving average of $667.09.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. The firm had revenue of $10.96 billion for the quarter, compared to analyst estimates of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $1.73 EPS. Analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, March 17th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is presently 11.24%.

Institutional Investors Weigh In On GE Vernova

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jackson Grant Investment Advisers Inc. increased its holdings in GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares in the last quarter. Cornerstone Financial Management LLC purchased a new stake in GE Vernova in the fourth quarter worth $25,000. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova in the third quarter valued at approximately $25,000. Torren Management LLC bought a new position in GE Vernova in the 4th quarter worth about $26,000. Finally, ORG Wealth Partners LLC increased its holdings in shares of GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after purchasing an additional 29 shares during the period.

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.