GE Vernova (NYSE:GEV) Trading Down 4.5% Following Analyst Downgrade

GE Vernova Inc. (NYSE:GEV)’s stock price fell 4.5% during mid-day trading on Friday after Seaport Res Ptn downgraded the stock from a strong-buy rating to a hold rating. The stock traded as low as $656.37 and last traded at $672.32. 5,179,232 shares were traded during trading, an increase of 52% from the average session volume of 3,410,762 shares. The stock had previously closed at $704.20.

Other equities research analysts have also issued research reports about the company. UBS Group boosted their price target on GE Vernova from $760.00 to $835.00 and gave the stock a “buy” rating in a research note on Wednesday. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research note on Wednesday. Melius Research set a $740.00 target price on shares of GE Vernova and gave the stock a “buy” rating in a research report on Monday, September 15th. Bank of America raised their price target on shares of GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Citigroup lowered their price objective on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Three analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $654.54.

Institutional Trading of GE Vernova

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in GE Vernova by 0.6% in the third quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock valued at $15,259,028,000 after purchasing an additional 150,892 shares during the period. State Street Corp lifted its position in shares of GE Vernova by 1.3% during the 3rd quarter. State Street Corp now owns 11,238,278 shares of the company’s stock valued at $6,910,417,000 after buying an additional 140,500 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of GE Vernova by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock valued at $3,221,404,000 after buying an additional 129,315 shares in the last quarter. Norges Bank acquired a new stake in GE Vernova in the 2nd quarter valued at $1,809,220,000. Finally, Northern Trust Corp increased its holdings in GE Vernova by 1.8% in the 3rd quarter. Northern Trust Corp now owns 2,877,458 shares of the company’s stock worth $1,769,349,000 after acquiring an additional 51,738 shares in the last quarter.

GE Vernova Trading Down 4.5%

The firm’s fifty day moving average is $595.51 and its 200 day moving average is $580.61. The company has a market cap of $182.41 billion, a PE ratio of 109.50, a price-to-earnings-growth ratio of 5.38 and a beta of 1.71.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. GE Vernova’s dividend payout ratio (DPR) is presently 16.29%.

GE Vernova Company Profile

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.