GE Vernova (NYSE:GEV) Shares Down 1.6% – What’s Next?

GE Vernova Inc. (NYSE:GEV) shares were down 1.6% on Monday . The stock traded as low as $882.00 and last traded at $897.30. 3,543,506 shares were traded during mid-day trading, an increase of 30% from the average daily volume of 2,729,615 shares. The stock had previously closed at $911.93.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GEV shares. Guggenheim increased their price objective on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of GE Vernova in a research report on Monday, July 27th. Morgan Stanley downgraded GE Vernova from an “overweight” rating to an “underweight” rating in a research note on Monday, August 3rd. BMO Capital Markets reiterated an “outperform” rating on shares of GE Vernova in a report on Friday, August 7th. Finally, Royal Bank Of Canada raised their price objective on GE Vernova from $1,195.00 to $1,225.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,133.15.

GE Vernova Price Performance

The firm has a market cap of $238.99 billion, a P/E ratio of 25.68, a P/E/G ratio of 4.15 and a beta of 1.15. The company has a fifty day moving average of $1,024.46 and a 200-day moving average of $976.86. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. During the same quarter last year, the business posted $1.86 earnings per share. GE Vernova’s revenue was up 21.9% on a year-over-year basis. On average, sell-side analysts anticipate that GE Vernova Inc. will post 15.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GEV. Parvin Asset Management LLC bought a new position in shares of GE Vernova during the 2nd quarter worth approximately $32,000. Pingora Partners LLC bought a new position in shares of GE Vernova in the second quarter valued at approximately $36,000. Manning & Napier Advisors LLC increased its position in shares of GE Vernova by 68.4% during the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after acquiring an additional 13 shares during the last quarter. IMG Wealth Management Inc. purchased a new stake in shares of GE Vernova during the second quarter valued at approximately $39,000. Finally, Miller Global Investments LLC increased its position in shares of GE Vernova by 63.6% during the second quarter. Miller Global Investments LLC now owns 36 shares of the company’s stock valued at $42,000 after acquiring an additional 14 shares during the last quarter.

About GE Vernova

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.