GE Vernova (NYSE:GEV) Stock Price Down 2.5% – Time to Sell?

GE Vernova Inc. (NYSE:GEV) dropped 2.5% during mid-day trading on Wednesday . The stock traded as low as $652.59 and last traded at $667.94. Approximately 4,016,997 shares traded hands during trading, an increase of 30% from the average daily volume of 3,100,827 shares. The stock had previously closed at $684.86.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Susquehanna lifted their target price on shares of GE Vernova from $750.00 to $775.00 and gave the stock a “positive” rating in a research report on Wednesday, December 10th. Barclays raised their price objective on shares of GE Vernova from $800.00 to $830.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 7th. Redburn Partners set a $475.00 target price on shares of GE Vernova in a research note on Wednesday, October 15th. Rothschild Redb lowered GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of GE Vernova in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $701.62.

GE Vernova Stock Down 2.5%

The stock has a market cap of $181.23 billion, a P/E ratio of 108.79, a price-to-earnings-growth ratio of 2.85 and a beta of 1.67. The firm’s 50-day moving average is $633.67 and its two-hundred day moving average is $615.06.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). The business had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.35) EPS. Analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be issued a $0.50 dividend. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, January 5th. GE Vernova’s dividend payout ratio is currently 32.57%.

Institutional Trading of GE Vernova

Institutional investors and hedge funds have recently made changes to their positions in the stock. Synergy Asset Management LLC grew its position in GE Vernova by 300.0% in the 3rd quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock valued at $1,078,000 after purchasing an additional 1,413 shares during the period. Kercheville Advisors LLC raised its holdings in GE Vernova by 238.3% during the third quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock worth $3,016,000 after buying an additional 3,455 shares during the last quarter. Dupree Financial Group LLC bought a new position in shares of GE Vernova in the second quarter valued at $253,000. Rakuten Investment Management Inc. acquired a new position in shares of GE Vernova during the third quarter valued at about $18,601,000. Finally, Nordea Investment Management AB increased its position in shares of GE Vernova by 136.1% during the third quarter. Nordea Investment Management AB now owns 561,213 shares of the company’s stock worth $341,038,000 after acquiring an additional 323,481 shares in 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.