GE Vernova (NYSE:GEV) Stock Price Down 5% – Time to Sell?

GE Vernova Inc. (NYSE:GEV)’s share price dropped 5% on Thursday . The stock traded as low as $619.75 and last traded at $629.2590. Approximately 4,284,812 shares traded hands during mid-day trading, an increase of 47% from the average daily volume of 2,912,172 shares. The stock had previously closed at $662.32.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GEV. Jefferies Financial Group set a $830.00 target price on GE Vernova in a research report on Monday, December 22nd. Wells Fargo & Company boosted their target price on shares of GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Redburn Partners set a $475.00 price target 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 research note on Wednesday, October 15th. Finally, Cowen restated a “buy” rating on shares of GE Vernova in a research report on Thursday, October 23rd. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $695.19.

GE Vernova Trading Down 5.0%

The firm’s fifty day simple moving average is $618.74 and its two-hundred day simple moving average is $605.43. The company has a market capitalization of $170.73 billion, a price-to-earnings ratio of 102.49, a price-to-earnings-growth ratio of 2.87 and a beta of 1.67.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the previous year, the company posted ($0.35) earnings per share. The company’s revenue was up 11.8% on a year-over-year basis. As a group, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

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

Institutional Investors Weigh In On GE Vernova

A number of hedge funds have recently added to or reduced their stakes in GEV. Jackson Grant Investment Advisers Inc. grew its holdings in GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after acquiring an additional 31 shares in the last quarter. Wealth Watch Advisors INC acquired a new position in shares of GE Vernova during the third quarter worth $25,000. Bay Harbor Wealth Management LLC grew its stake in shares of GE Vernova by 537.5% during the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares in the last quarter. Elevation Wealth Partners LLC increased its holdings in GE Vernova by 47.2% in the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after buying an additional 17 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators raised its stake in GE Vernova by 112.0% in the third quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock valued at $33,000 after buying an additional 28 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.