GE Vernova (NYSE:GEV) Shares Down 2.2% – Should You Sell?

GE Vernova Inc. (NYSE:GEV) shares fell 2.2% during mid-day trading on Thursday . The stock traded as low as $942.36 and last traded at $965.58. 2,634,536 shares changed hands during mid-day trading, a decline of 4% from the average daily volume of 2,755,703 shares. The stock had previously closed at $987.46.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GEV. Argus set a $1,300.00 target price on shares of GE Vernova in a research note on Monday, April 27th. Oppenheimer upped their price target on GE Vernova from $1,303.00 to $1,338.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Jefferies Financial Group reissued a “buy” rating on shares of GE Vernova in a research note on Monday, July 27th. Wall Street Zen cut GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, JPMorgan Chase & Co. boosted their target price on GE Vernova from $1,302.00 to $1,330.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,133.15.

GE Vernova Price Performance

The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The firm has a market cap of $254.80 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 3.45 and a beta of 1.21. The stock’s fifty day moving average price is $1,042.72 and its 200-day moving average price is $968.13.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. During the same period in the prior year, the business posted $1.86 EPS. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. Equities research analysts predict that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

Insider Buying and Selling at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction on 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 transaction, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On GE Vernova

A number of institutional investors have recently bought and sold shares of GEV. Auto Owners Insurance Co boosted its holdings in shares of GE Vernova by 110,973.4% during the fourth 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 during the period. Vanguard Group Inc. lifted its position in GE Vernova by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock worth $16,354,691,000 after buying an additional 208,162 shares in the last quarter. BlackRock Inc. purchased a new stake in GE Vernova in the 2nd quarter worth approximately $25,569,630,000. State Street Corp boosted its stake in shares of GE Vernova by 2.1% during the 4th 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. Finally, Geode Capital Management LLC boosted its stake in shares of GE Vernova by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock valued at $4,074,039,000 after buying an additional 68,894 shares during the period.

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.