GE Vernova (NYSE:GEV) Stock Price Up 4.5% – What’s Next?

by · The Markets Daily

GE Vernova Inc. (NYSE:GEV – Get Free Report)’s stock price traded up 4.5% during trading on Thursday . The stock traded as high as $639.14 and last traded at $628.84. 3,690,432 shares changed hands during trading, an increase of 9% from the average session volume of 3,374,578 shares. The stock had previously closed at $601.97.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. TD Cowen decreased their target price on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. BMO Capital Markets upped their price target on GE Vernova from $690.00 to $710.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Rothschild Redb lowered GE Vernova from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Glj Research lifted their price objective on GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $654.00 target price on shares of GE Vernova in a research note on Monday, October 27th. 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 assigned a Sell rating to the company. According to MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $616.08.

View Our Latest Stock Report on GEV

GE Vernova Price Performance

The firm has a 50-day moving average of $589.68 and a 200 day moving average of $573.07. The company has a market capitalization of $170.62 billion, a PE ratio of 102.42, a PEG ratio of 4.47 and a beta of 1.71.

GE Vernova (NYSE:GEV – Get Free Report) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). The company 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 was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.35) EPS. Equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

Institutional Investors Weigh In On GE Vernova

A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of GE Vernova in the second quarter worth $1,809,220,000. Capital World Investors boosted its position in GE Vernova by 1,907.5% in the third quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock worth $1,325,842,000 after purchasing an additional 2,048,792 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of GE Vernova by 273.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock valued at $798,126,000 after purchasing an additional 1,104,747 shares during the period. AQR Capital Management LLC increased its position in shares of GE Vernova by 252.9% during the 1st quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock valued at $366,016,000 after purchasing an additional 892,549 shares during the last quarter. Finally, Amundi increased its position in shares of GE Vernova by 109.0% during the 1st quarter. Amundi now owns 1,665,980 shares of the company’s stock valued at $496,013,000 after purchasing an additional 868,927 shares during the last quarter.

About GE Vernova

(Get Free Report)

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.

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