GE Vernova (NYSE:GEV) Shares Up 0% – Should You Buy?

GE Vernova Inc. (NYSE:GEV) shares shot up 0% during trading on Thursday . The company traded as high as $348.51 and last traded at $335.35. 1,497,149 shares changed hands during trading, a decline of 61% from the average session volume of 3,857,628 shares. The stock had previously closed at $335.24.

Wall Street Analysts Forecast Growth

GEV has been the subject of several research analyst reports. Guggenheim lowered GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a research report on Friday, January 24th. Barclays lifted their target price on GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Robert W. Baird initiated coverage on GE Vernova in a report on Thursday, February 13th. They set an “outperform” rating and a $448.00 price target on the stock. Jefferies Financial Group lifted their price target on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, CICC Research assumed coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating on the stock. Eight research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $350.13.

GE Vernova Price Performance

The company has a market capitalization of $92.65 billion and a P/E ratio of 60.40. The firm has a fifty day moving average price of $363.85 and a 200-day moving average price of $304.63.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s revenue was up 5.1% on a year-over-year basis. On average, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio is 17.99%.

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

Institutional Investors Weigh In On GE Vernova

Several large investors have recently modified their holdings of the stock. Waverton Investment Management Ltd grew its holdings in GE Vernova by 10.0% during the third quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock valued at $185,459,000 after purchasing an additional 66,455 shares during the period. Register Financial Advisors LLC bought a new stake in shares of GE Vernova in the fourth quarter valued at $206,000. Hanlon Investment Management Inc. purchased a new position in shares of GE Vernova during the 3rd quarter valued at $1,101,000. Atria Investments Inc grew its stake in shares of GE Vernova by 127.0% during the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after acquiring an additional 2,847 shares during the period. Finally, GPS Wealth Strategies Group LLC increased its holdings in GE Vernova by 1,126.0% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock worth $294,000 after acquiring an additional 822 shares during 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.