GE Vernova Target of Unusually High Options Trading (NYSE:GEV)

GE Vernova Inc. (NYSE:GEV) was the target of unusually large options trading activity on Thursday. Investors bought 15,340 call options on the stock. This is an increase of approximately 33% compared to the typical daily volume of 11,563 call options.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GEV shares. Barclays upped their price target on GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target on the stock. in a report on Friday, January 24th. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. TD Cowen began coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of GE Vernova in a research report on Monday, October 21st. They set a “buy” rating and a $354.00 target price for the company. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $342.94.

Institutional Trading of GE Vernova

A number of hedge funds and other institutional investors have recently modified their holdings of GEV. FMR LLC boosted its stake in GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after purchasing an additional 584,208 shares in the last quarter. State Street Corp lifted its position in GE Vernova by 1.1% in the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after acquiring an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC purchased a new stake in GE Vernova during the 3rd quarter valued at $2,507,296,000. Geode Capital Management LLC lifted its holdings in shares of GE Vernova by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after purchasing an additional 80,479 shares in the last quarter. Finally, WCM Investment Management LLC boosted its position in shares of GE Vernova by 83.1% during the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after buying an additional 1,161,901 shares during the last quarter.

GE Vernova Stock Up 7.3 %

Shares of GE Vernova stock traded up $25.63 during trading on Thursday, reaching $378.88. 3,335,563 shares of the stock were exchanged, compared to its average volume of 4,221,575. The firm has a market cap of $104.44 billion and a price-to-earnings ratio of 68.15. GE Vernova has a 1 year low of $115.00 and a 1 year high of $447.50. The stock’s fifty day moving average is $353.99 and its 200 day moving average is $276.49.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The company’s quarterly revenue was up 5.1% on a year-over-year basis. Equities analysts forecast that GE Vernova will post 6.61 earnings per share for the current year.

GE Vernova Dividend Announcement

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

GE Vernova declared that its Board of Directors has approved a stock repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

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.