GE Vernova (NYSE:GEV) Stock Price Down 3.4% – Time to Sell?

GE Vernova Inc. (NYSE:GEV) shares fell 3.4% on Monday . The company traded as low as $980.14 and last traded at $1,013.6120. 3,107,263 shares changed hands during trading, an increase of 14% from the average session volume of 2,729,640 shares. The stock had previously closed at $1,049.23.

Analysts Set New Price Targets

GEV has been the subject of a number of recent analyst reports. Susquehanna set a $1,300.00 price target on shares of GE Vernova in a research note on Thursday, April 23rd. China Renaissance upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, January 29th. Erste Group Bank upgraded GE Vernova to a “strong-buy” rating in a report on Tuesday, March 24th. Oppenheimer set a $1,303.00 price target on GE Vernova in a research report on Thursday, April 23rd. Finally, Rothschild & Co Redburn raised GE Vernova from a “sell” rating to a “buy” rating and raised their price objective for the company from $560.00 to $1,100.00 in a research report on Monday, March 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,090.76.

GE Vernova Stock Down 3.4%

The firm has a market cap of $272.38 billion, a P/E ratio of 29.53, a P/E/G ratio of 3.93 and a beta of 1.51. The firm’s fifty day moving average is $957.76 and its 200 day moving average is $775.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89.

GE Vernova (NYSE:GEV) last released its quarterly 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 firm had revenue of $9.34 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the prior year, the firm earned $0.91 EPS. The business’s revenue was up 17.0% on a year-over-year basis. As a group, equities research analysts anticipate that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th were paid a $0.50 dividend. The ex-dividend date was Tuesday, March 17th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s payout ratio is 5.83%.

Institutional Investors Weigh In On GE Vernova

Hedge funds and other institutional investors have recently modified their holdings of the company. Auto Owners Insurance Co grew its position in shares of GE Vernova by 110,973.4% during the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after purchasing an additional 34,826,773 shares in the last quarter. Vanguard Group Inc. raised its position in shares of GE Vernova by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock valued at $16,354,691,000 after buying an additional 208,162 shares in the last quarter. State Street Corp boosted its stake in shares of GE Vernova by 2.1% in the fourth quarter. State Street Corp now owns 11,469,670 shares of the company’s stock valued at $7,496,232,000 after buying an additional 231,392 shares during the period. Geode Capital Management LLC grew its position in GE Vernova by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock worth $4,074,039,000 after buying an additional 68,894 shares in the last quarter. Finally, Morgan Stanley grew its position in GE Vernova by 12.8% during the fourth quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock worth $3,957,024,000 after buying an additional 685,466 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.