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

GE Vernova Inc. (NYSE:GEV) was the target of some unusual options trading activity on Thursday. Stock investors purchased 15,340 call options on the company. This represents an increase of approximately 33% compared to the average volume of 11,563 call options.

GE Vernova Stock Up 8.3 %

NYSE:GEV opened at $382.73 on Friday. The business’s 50-day moving average price is $353.99 and its 200 day moving average price is $276.49. GE Vernova has a 52-week low of $115.00 and a 52-week high of $447.50. The firm has a market cap of $105.50 billion and a P/E ratio of 68.84.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $10.70 billion. The company’s quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts expect that GE Vernova will post 6.61 EPS for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.26%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is presently 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 shares. This repurchase authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several analysts recently weighed in on the company. BMO Capital Markets boosted their price objective on GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Barclays raised their price objective on GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Guggenheim lowered shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price for the company. in a research note on Friday, January 24th. The Goldman Sachs Group raised their price target on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, HSBC reissued a “hold” rating and issued a $255.00 target price (up previously from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $342.94.

Hedge Funds Weigh In On GE Vernova

Institutional investors have recently bought and sold shares of the stock. Waverton Investment Management Ltd increased its holdings in shares of GE Vernova by 10.0% in the 3rd 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 purchased a new stake in GE Vernova in the 4th quarter worth approximately $206,000. Hanlon Investment Management Inc. acquired a new stake in shares of GE Vernova during the 3rd quarter valued at $1,101,000. Atria Investments Inc grew its holdings 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 valued at $1,297,000 after acquiring an additional 2,847 shares in the last quarter. Finally, Fractal Investments LLC acquired a new position in shares of GE Vernova in the third quarter worth $1,530,000.

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.