CtrlK
GEV
NYSE
Electrical Equipment
$1045.17
USD
-$40.30 (-3.71%)
Last close
Market Cap:
$291.69B
Volume:
3.6M
Previous Close
$1085.47
Day Range
$1042.00 - $1084.40
52 Week Range
$482.20 - $1181.95
Average Volume (10 Days)
3.5M
P/E Ratio
59.74
Dividend Yield
0.12%
GE Vernova, Inc. engages in the electric power industry. The company is headquartered in Cambridge, Massachusetts and currently employs 75,000 full-time employees. The company went IPO on 2024-02-26. The company designs, manufactures, delivers, and services technologies to create a sustainable electric power system, enabling electrification and decarbonization. Power segment includes the design, manufacture, and servicing of gas, nuclear, hydro, and steam technologies, providing a critical foundation of dispatchable, flexible, stable, and reliable power. Wind segment includes its wind generation technologies, inclusive of onshore and offshore wind turbines and blades. Electrification segment includes grid solutions, power conversion and storage, and electrification software technologies required for the transmission, distribution, conversion, storage, and orchestration of electricity from point of generation to point of consumption. Its accelerator business includes advanced research, consulting services and financial services.
CEO
Mr. Scott Strazik
Headquaters
Cambridge, MASSACHUSETTS, US
Founded
2024
Employees
75,000
GE Aerospace shares jumped 5% on May 20 after securing a U.S. Air Force contract for next-generation autonomous combat aircraft engines. The move was reinforced by an analyst upgrade highlighting the company's underappreciated defense segment, which could drive future revenue growth.
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GE Vernova lifted its full-year revenue outlook after strong first-quarter results driven by surging demand for power equipment. The company is benefiting from a global electricity shortage as AI data centers rapidly expand, with orders significantly outpacing revenue and a backlog reaching $163.3 billion.
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GE Vernova raised its full-year revenue and profit outlook after first-quarter results beat expectations, driven by surging demand for power equipment from AI data centers. The company's order backlog jumped 40% year-over-year to $163.3 billion, though shares now trade at premium valuations reflecting future growth expectations.
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Jefferies analyst Julien Dumoulin-Smith maintains GE Vernova (NYSE:GEV) with a Buy and lowers the price target from $1350 to $1210.
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