GE Vernova (NYSE:GEV) Shares Down 3.7% – Should You Sell?

GE Vernova Inc. (NYSE:GEV)’s share price dropped 3.7% during mid-day trading on Friday . The company traded as low as $1,042.00 and last traded at $1,045.7410. Approximately 3,614,950 shares were traded during mid-day trading, an increase of 29% from the average daily volume of 2,799,080 shares. The stock had previously closed at $1,085.47.

Analyst Upgrades and Downgrades

GEV has been the topic of several research reports. TD Cowen boosted their target price on GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,328.00 price objective on shares of GE Vernova in a report on Friday, April 24th. Sanford C. Bernstein initiated coverage on shares of GE Vernova in a research report on Tuesday, June 16th. They issued an “outperform” rating and a $1,206.00 price objective on the stock. Morgan Stanley increased their target price on shares of GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a report on Monday, March 23rd. Finally, Rothschild & Co Redburn upgraded shares of GE Vernova from a “sell” rating to a “buy” rating and lifted their price target for the company from $560.00 to $1,100.00 in a research note on Monday, March 9th. Three investment 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 company’s stock. According to MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $1,089.88.

GE Vernova Trading Down 3.7%

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The firm has a fifty day moving average price of $1,031.16 and a 200 day moving average price of $863.97. The company has a market cap of $281.01 billion, a price-to-earnings ratio of 30.46, a P/E/G ratio of 3.87 and a beta of 1.23.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the previous year, the company earned $0.91 earnings per share. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, equities analysts predict that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

Insider Transactions at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction dated 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 transaction, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the transaction, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by corporate insiders.

Institutional Trading of GE Vernova

A number of hedge funds have recently made changes to their positions in the business. Cornerstone Financial Management LLC acquired a new position in shares of GE Vernova during the 4th quarter worth approximately $25,000. Wealth Watch Advisors INC acquired a new stake in GE Vernova during the 3rd quarter valued at $25,000. Torren Management LLC bought a new position in GE Vernova during the fourth quarter worth $26,000. Manning & Napier Advisors LLC boosted its position in GE Vernova by 68.4% during the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after purchasing an additional 13 shares during the period. Finally, ORG Wealth Partners LLC increased its holdings in shares of GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after purchasing an additional 29 shares during 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.