GE Vernova (NYSE:GEV) Stock Falls 9.4% After Analyst Downgrade

GE Vernova Inc. (NYSE:GEV)’s stock price fell 9.4% during mid-day trading on Wednesday after Argus lowered their price target on the stock from $1,300.00 to $1,100.00. Argus currently has a buy rating on the stock. GE Vernova traded as low as $806.40 and last traded at $832.0240. Approximately 6,247,007 shares traded hands during trading, an increase of 130% from the average daily volume of 2,714,874 shares. The stock had previously closed at $918.20.

GEV has been the subject of several other research reports. President Capital raised their price target on GE Vernova from $1,368.00 to $1,398.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. BMO Capital Markets restated an “outperform” rating and set a $1,200.00 price target on shares of GE Vernova in a research note on Thursday, October 29th. TD Cowen cut their price objective on shares of GE Vernova from $1,235.00 to $1,125.00 and set a “buy” rating on the stock in a report on Thursday, October 29th. HSBC raised shares of GE Vernova from a “hold” rating to a “buy” rating and increased their price objective for the company from $1,040.00 to $1,100.00 in a research report on Friday, October 30th. Finally, William Blair reiterated an “outperform” rating on shares of GE Vernova in a research note on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $1,144.20.

Key Headlines Impacting GE Vernova

Here are the key news stories impacting GE Vernova this week:

• Positive Sentiment: Bernstein reaffirmed its Buy rating, arguing that concerns about political limits on U.S. data-center construction are overblown. That view helped lift power-infrastructure stocks in the prior session. Bernstein Reaffirms Their Buy Rating on GE Vernova
• Positive Sentiment: BMO sees about 39% upside after GEV’s recent pullback, while earlier reports cited strong quarterly orders and raised company guidance as support for the longer-term outlook. BMO Sees Upside for GE Vernova
• Neutral Sentiment: GE Vernova’s planned $9 billion purchase of Trench Group would expand its grid-equipment business, which could benefit from rising electricity demand. The acquisition’s scale also makes its execution and cost relevant to investors. GE Vernova Is Paying $9 Billion for Trench Group
• Negative Sentiment: Guggenheim lowered its expectations for GEV, a fresh negative analyst signal that may weigh on sentiment amid the stock’s recent pullback. Guggenheim Has Lowered Expectations for GE Vernova

Institutional Trading of GE Vernova

Large investors have recently added to or reduced their stakes in the company. Gryphon Financial Partners LLC increased its stake in shares of GE Vernova by 4.7% in the third quarter. Gryphon Financial Partners LLC now owns 3,281 shares of the company’s stock worth $3,118,000 after acquiring an additional 148 shares during the period. Consolidated Investment Group LLC raised its holdings in shares of GE Vernova by 19.4% during the third quarter. Consolidated Investment Group LLC now owns 4,300 shares of the company’s stock worth $4,087,000 after purchasing an additional 700 shares during the last quarter. Vestor Capital LLC raised its holdings in shares of GE Vernova by 10,814.9% during the third quarter. Vestor Capital LLC now owns 398,177 shares of the company’s stock worth $378,463,000 after purchasing an additional 394,529 shares during the last quarter. Kestra Investment Management LLC lifted its position in GE Vernova by 48.3% during the third quarter. Kestra Investment Management LLC now owns 525 shares of the company’s stock valued at $499,000 after purchasing an additional 171 shares during the period. Finally, AlphaCore Capital LLC lifted its position in GE Vernova by 19.5% during the third quarter. AlphaCore Capital LLC now owns 13,906 shares of the company’s stock valued at $13,218,000 after purchasing an additional 2,266 shares during the period.

GE Vernova Stock Down 9.4%

The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $220.22 billion, a price-to-earnings ratio of 21.83, a P/E/G ratio of 2.92 and a beta of 1.25. The business’s 50-day moving average is $932.44 and its 200-day moving average is $942.76.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.78. GE Vernova had a return on equity of 46.50% and a net margin of 23.54%. The company had revenue of $12.64 billion during the quarter, compared to analysts’ expectations of $11.99 billion. During the same period last year, the business earned $1.64 earnings per share. GE Vernova’s quarterly revenue was up 26.8% on a year-over-year basis. As a group, equities analysts predict that GE Vernova Inc. will post 16.05 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, October 27th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, October 27th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is presently 5.25%.

About GE Vernova

GE Vernova Inc (NYSE: GEV) is an energy technology company focused on helping generate, transmit, store and deliver electricity. The company serves utilities, power producers, grid operators, commercial and industrial customers, and other energy-sector participants worldwide.

Its business is organized around three primary areas: Power, Wind and Electrification. Power provides technologies and services for gas and steam power generation, hydropower, nuclear power and other energy systems.