GE Vernova (NYSE:GEV) Stock Price Down 2.9% – Time to Sell?

Shares of GE Vernova Inc. (NYSE:GEV) traded down 2.9% on Thursday . The stock traded as low as $918.60 and last traded at $923.39. Approximately 1,458,084 shares traded hands during trading, a decline of 46% from the average session volume of 2,692,264 shares. The stock had previously closed at $951.04.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GEV shares. William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Monday, August 3rd. Jefferies Financial Group reiterated a “buy” rating on shares of GE Vernova in a research report on Monday, July 27th. Guggenheim raised their price objective on GE Vernova from $1,300.00 to $1,450.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Sanford C. Bernstein upped their price objective on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,155.28.

GE Vernova Stock Down 2.9%

The firm’s fifty day moving average is $1,006.09 and its 200-day moving average is $982.37. The company has a market capitalization of $245.93 billion, a P/E ratio of 26.43, a price-to-earnings-growth ratio of 4.52 and a beta of 1.15. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The business’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.86 EPS. As a group, equities research analysts predict that GE Vernova Inc. will post 15.36 EPS for the current year.

Institutional Trading of GE Vernova

Several hedge funds and other institutional investors have recently made changes to their positions in the company. B. Metzler seel. Sohn & Co. AG lifted its position in GE Vernova by 37.7% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 23,080 shares of the company’s stock valued at $27,116,000 after buying an additional 6,313 shares during the period. RiverFront Investment Group LLC increased its stake in shares of GE Vernova by 239.2% in the 4th quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock worth $1,432,000 after acquiring an additional 1,545 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new position in GE Vernova during the 2nd quarter valued at about $8,337,000. Sapient Capital LLC lifted its position in GE Vernova by 31.4% during the 2nd quarter. Sapient Capital LLC now owns 76,038 shares of the company’s stock valued at $89,372,000 after acquiring an additional 18,188 shares during the period. Finally, Processus Wealth & Capital Management LLC bought a new stake in GE Vernova during the second quarter worth about $2,699,000.

GE Vernova Company Profile

GE Vernova Inc (NYSE: GEV) is an energy technology company that provides equipment, software and services for electricity generation, transmission and distribution. Its portfolio is designed to support power systems across a range of energy sources, including natural gas, nuclear, hydroelectric, wind and solar power, as well as battery storage.

The company operates through three primary businesses: Power, Wind and Electrification. Power supplies gas and steam turbines, generators, nuclear power technologies, hydroelectric equipment and related maintenance services.