GE Vernova (NYSE:GEV) Stock Price Down 1.3% – Time to Sell?

GE Vernova Inc. (NYSE:GEV) shares dropped 1.3% during mid-day trading on Wednesday. The company traded as low as $947.42 and last traded at $949.53. 1,746,798 shares were traded during trading, a decline of 34% from the average daily volume of 2,660,907 shares. The stock had previously closed at $962.49.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,250.00 price objective (up from $1,110.00) on shares of GE Vernova in a report on Friday, August 7th. Royal Bank Of Canada boosted their target price on GE Vernova from $1,195.00 to $1,225.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. boosted their target price on GE Vernova from $1,302.00 to $1,330.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Morgan Stanley downgraded GE Vernova from an “overweight” rating to an “underweight” rating in a report on Monday, August 3rd. Finally, President Capital increased their target price on shares of GE Vernova from $1,368.00 to $1,398.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,171.87.

GE Vernova Trading Up 3.8%

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. The firm has a fifty day moving average of $964.10 and a 200-day moving average of $993.29. The firm has a market cap of $262.67 billion, a P/E ratio of 28.23, a P/E/G ratio of 4.42 and a beta of 1.14.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.86 earnings per share. Equities research analysts forecast that GE Vernova Inc. will post 15.36 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Tuesday, October 27th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, October 27th. GE Vernova’s dividend payout ratio is presently 5.72%.

Hedge Funds Weigh In On GE Vernova

Hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its stake in shares of GE Vernova by 2.2% in the 3rd quarter. Versant Capital Management Inc now owns 2,578 shares of the company’s stock valued at $2,450,000 after purchasing an additional 56 shares in the last quarter. First Financial Bank Trust Division increased its holdings in GE Vernova by 5.8% during the 3rd quarter. First Financial Bank Trust Division now owns 561 shares of the company’s stock worth $533,000 after purchasing an additional 31 shares in the last quarter. Roxbury Financial LLC boosted its holdings in GE Vernova by 71.1% during the 3rd quarter. Roxbury Financial LLC now owns 77 shares of the company’s stock worth $73,000 after acquiring an additional 32 shares during the last quarter. Stonebridge Financial Group LLC lifted its position in shares of GE Vernova by 4.1% during the 3rd quarter. Stonebridge Financial Group LLC now owns 380 shares of the company’s stock worth $361,000 after buying an additional 15 shares in the last quarter. Finally, Parrish Capital LLC boosted its holdings in shares of GE Vernova by 1.4% in the 3rd quarter. Parrish Capital LLC now owns 1,616 shares of the company’s stock worth $1,536,000 after buying an additional 23 shares during the last quarter.

GE Vernova Company Profile

GE Vernova Inc (NYSE: GEV) is an energy technology company formed through the separation of General Electric’s energy businesses in April 2024. The company is focused on helping generate, transmit, distribute and store electricity as power systems adapt to rising demand and the transition toward lower-carbon energy sources.

GE Vernova operates across three principal business areas: Power, Wind and Electrification. Its products and services include gas and steam power generation equipment, nuclear and hydropower technologies, onshore and offshore wind turbines, wind services, grid equipment, electrification systems, energy storage solutions and software used to monitor and manage energy infrastructure.

The company serves utilities, independent power producers, industrial customers and other energy-sector organizations in markets around the world.