GE Vernova (NYSE:GEV) Shares Down 5.8% – What’s Next?

GE Vernova Inc. (NYSE:GEV) shares dropped 5.8% during mid-day trading on Wednesday . The stock traded as low as $856.01 and last traded at $866.6310. Approximately 5,290,888 shares traded hands during mid-day trading, an increase of 94% from the average daily volume of 2,728,911 shares. The stock had previously closed at $920.15.

Wall Street Analyst Weigh In

GEV has been the subject of a number of recent research reports. Citigroup upped their price target on GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a research report on Monday, April 13th. Erste Group Bank raised GE Vernova to a “strong-buy” rating in a research report on Tuesday, March 24th. Rothschild & Co Redburn raised GE Vernova from a “sell” rating to a “buy” rating and upped their price target for the stock from $560.00 to $1,100.00 in a research report on Monday, March 9th. TD Cowen upped their price target on GE Vernova from $780.00 to $1,220.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Finally, Royal Bank Of Canada lifted their price target on shares of GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $1,085.16.

GE Vernova Stock Up 3.7%

The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The firm’s 50 day moving average is $1,007.95 and its two-hundred day moving average is $830.97. The firm has a market capitalization of $252.63 billion, a P/E ratio of 27.39, a PEG ratio of 3.21 and a beta of 1.23.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period last year, the business earned $0.91 earnings per share. The firm’s revenue was up 17.0% on a year-over-year basis. Research analysts predict that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 5.83%.

Insider Buying and Selling at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the sale, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This trade represents a 72.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the sale, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This represents a 39.66% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On GE Vernova

Hedge funds have recently added to or reduced their stakes in the business. Auto Owners Insurance Co lifted its holdings in shares of GE Vernova by 110,973.4% during the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after buying an additional 34,826,773 shares in the last quarter. Norges Bank acquired a new stake in shares of GE Vernova during the fourth quarter worth $2,283,114,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of GE Vernova by 5,171.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock worth $1,603,114,000 after buying an additional 2,406,326 shares in the last quarter. Capital World Investors lifted its holdings in shares of GE Vernova by 1,907.5% during the third quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock worth $1,325,842,000 after buying an additional 2,048,792 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in shares of GE Vernova by 2,802.8% during the fourth quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company’s stock worth $1,051,407,000 after buying an additional 1,553,295 shares in the last quarter.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.