GE Vernova (NYSE:GEV) Shares Down 5% – What’s Next?

GE Vernova Inc. (NYSE:GEV) shares were down 5% during trading on Thursday . The company traded as low as $619.75 and last traded at $629.2590. Approximately 4,284,812 shares were traded during mid-day trading, an increase of 47% from the average daily volume of 2,912,172 shares. The stock had previously closed at $662.32.

Analysts Set New Price Targets

Several analysts have recently weighed in on GEV shares. Seaport Res Ptn downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. TD Cowen decreased their price objective on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Melius Research set a $740.00 target price on GE Vernova and gave the stock a “buy” rating in a research report on Monday, September 15th. Royal Bank Of Canada reissued an “outperform” rating and issued a $761.00 target price on shares of GE Vernova in a research report on Monday, December 22nd. Finally, Barclays lifted their price target on GE Vernova from $800.00 to $830.00 and gave the stock an “overweight” rating in a research report on Wednesday. Four analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $695.19.

GE Vernova Trading Down 5.0%

The company has a market cap of $170.73 billion, a PE ratio of 102.49, a price-to-earnings-growth ratio of 2.87 and a beta of 1.67. The stock has a fifty day simple moving average of $618.74 and a two-hundred day simple moving average of $605.43.

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

GE Vernova Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, January 5th. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s payout ratio is presently 32.57%.

Institutional Trading of GE Vernova

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Synergy Asset Management LLC raised its stake in GE Vernova by 300.0% during the third quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock valued at $1,078,000 after buying an additional 1,413 shares during the last quarter. Pines Wealth Management LLC bought a new position in shares of GE Vernova during the second quarter valued at $408,000. Kercheville Advisors LLC raised its position in shares of GE Vernova by 238.3% in the 3rd quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock worth $3,016,000 after purchasing an additional 3,455 shares during the last quarter. Dupree Financial Group LLC purchased a new position in shares of GE Vernova in the 2nd quarter worth about $253,000. Finally, International Assets Investment Management LLC boosted its stake in GE Vernova by 18.8% in the 2nd quarter. International Assets Investment Management LLC now owns 3,903 shares of the company’s stock worth $2,065,000 after purchasing an additional 619 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.