GE Vernova (NYSE:GEV) Shares Gap Up - Time to Buy?

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $330.00, but opened at $351.42. GE Vernova shares last traded at $338.15, with a volume of 2,086,546 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GEV shares. Guggenheim lowered GE Vernova from a "buy" rating to a "neutral" rating and set a $380.00 price target on the stock. in a research note on Friday, January 24th. Jefferies Financial Group upped their target price on shares of GE Vernova from $348.00 to $391.00 and gave the company a "buy" rating in a research report on Friday, December 13th. The Goldman Sachs Group lifted their price target on shares of GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Royal Bank of Canada reissued an "outperform" rating and issued a $453.00 price target on shares of GE Vernova in a research note on Tuesday. Finally, Barclays increased their price objective on shares of GE Vernova from $420.00 to $487.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $342.94.

GE Vernova Price Performance

The stock has a market capitalization of $105.50 billion and a P/E ratio of 68.84. The stock's fifty day moving average is $353.99 and its 200-day moving average is $276.49.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company's revenue was up 5.1% on a year-over-year basis. On average, research analysts expect that GE Vernova Inc. will post 6.61 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova's payout ratio is 17.99%.

GE Vernova announced that its board has authorized a stock repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Institutional Trading of GE Vernova

Several large investors have recently added to or reduced their stakes in GEV. Mackenzie Financial Corp bought a new position in shares of GE Vernova in the 2nd quarter valued at about $4,004,000. Ascent Group LLC bought a new position in GE Vernova in the second quarter valued at approximately $327,000. Creative Planning acquired a new stake in GE Vernova during the 2nd quarter worth $8,105,000. Northwestern Mutual Wealth Management Co. acquired a new stake in GE Vernova during the 2nd quarter worth $2,511,000. Finally, NewEdge Advisors LLC bought a new stake in shares of GE Vernova during the 2nd quarter valued at $1,851,000.

About GE Vernova

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.