GE Vernova (NYSE:GEV) Stock Price Down 3.1% – Here’s What Happened

GE Vernova Inc. (NYSE:GEV)’s stock price dropped 3.1% during trading on Friday . The stock traded as low as $782.37 and last traded at $790.00. Approximately 2,658,065 shares were traded during trading, a decline of 11% from the average daily volume of 2,977,429 shares. The stock had previously closed at $815.01.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GEV shares. Evercore raised their price target on shares of GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. TD Cowen boosted their price objective on GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. The Goldman Sachs Group increased their price objective on GE Vernova from $840.00 to $925.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Mizuho set a $714.00 target price on GE Vernova in a report on Tuesday, February 3rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $785.00 target price on shares of GE Vernova in a research report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $805.25.

GE Vernova Trading Down 3.1%

The firm has a market capitalization of $212.93 billion, a P/E ratio of 44.38, a P/E/G ratio of 3.14 and a beta of 1.45. The stock’s 50-day simple moving average is $743.08 and its 200-day simple moving average is $656.12.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, topping the consensus estimate of $2.99 by $10.40. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The firm had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $10.21 billion. During the same quarter last year, the firm earned $1.73 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s dividend payout ratio (DPR) is 11.24%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Brighton Jones LLC raised its stake in shares of GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after purchasing an additional 753 shares during the period. Schnieders Capital Management LLC. grew its position in GE Vernova by 1.7% during the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after buying an additional 26 shares during the period. First Horizon Advisors Inc. increased its holdings in GE Vernova by 7.6% during the second quarter. First Horizon Advisors Inc. now owns 746 shares of the company’s stock worth $395,000 after buying an additional 53 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in GE Vernova during the second quarter worth about $624,000. Finally, Ethos Financial Group LLC bought a new stake in GE Vernova in the second quarter worth about $207,000.

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.