GE Vernova (NYSE:GEV) Trading 6.2% Higher – Should You Buy?

Shares of GE Vernova Inc. (NYSE:GEV) were up 6.2% during trading on Thursday . The company traded as high as $383.85 and last traded at $375.08. Approximately 2,044,612 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 4,147,854 shares. The stock had previously closed at $353.25.

Analyst Ratings Changes

Several research analysts recently weighed in on GEV shares. Evercore ISI lifted their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Citigroup boosted their price target on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a research note on Monday, October 21st. They set a “buy” rating and a $354.00 price objective on the stock. Hsbc Global Res cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Finally, Barclays raised their price target on GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $342.94.

GE Vernova Stock Performance

The company has a market cap of $105.50 billion and a price-to-earnings ratio of 68.84. The stock’s fifty day moving average is $353.99 and its two-hundred day moving average is $276.49.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The business’s revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts expect that GE Vernova Inc. will post 6.61 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.26%. GE Vernova’s payout ratio is 17.99%.

GE Vernova declared that its board has authorized a stock repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GEV. Armstrong Advisory Group Inc. boosted its holdings in GE Vernova by 3.5% in the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after buying an additional 27 shares during the period. Hengehold Capital Management LLC lifted its holdings in GE Vernova by 2.4% during the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after purchasing an additional 29 shares in the last quarter. AdvisorNet Financial Inc increased its position in shares of GE Vernova by 1.6% during the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after buying an additional 30 shares during the period. Mutual Advisors LLC boosted its position in shares of GE Vernova by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after acquiring an additional 31 shares during the period. Finally, WASHINGTON TRUST Co lifted its stake in GE Vernova by 1.9% in the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock worth $560,000 after purchasing an additional 31 shares in the last quarter.

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.