GE Vernova (NYSE:GEV) Stock Price Down 1.2% – Time to Sell?

GE Vernova Inc. (NYSE:GEV) shares dropped 1.2% during trading on Wednesday . The company traded as low as $637.20 and last traded at $644.5430. Approximately 2,393,928 shares were traded during trading, a decline of 12% from the average daily volume of 2,730,901 shares. The stock had previously closed at $652.09.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price objective on GE Vernova from $735.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Robert W. Baird reiterated a “neutral” rating and issued a $649.00 target price (down previously from $816.00) on shares of GE Vernova in a research report on Friday, January 9th. BMO Capital Markets increased their price target on shares of GE Vernova from $710.00 to $780.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Wolfe Research raised shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research report on Wednesday, December 10th. Finally, Jefferies Financial Group set a $830.00 price objective on shares of GE Vernova in a report on Monday, December 22nd. Three analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $703.04.

GE Vernova Price Performance

The stock has a fifty day simple moving average of $629.47 and a 200-day simple moving average of $611.23. The company has a market capitalization of $184.98 billion, a price-to-earnings ratio of 111.04, a P/E/G ratio of 2.69 and a beta of 1.67.

GE Vernova (NYSE:GEV) last posted its earnings results 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 net margin of 4.52% and a return on equity of 17.07%. The firm had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same period last year, the firm earned ($0.35) earnings per share. GE Vernova’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, January 5th. This is a positive change 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%. GE Vernova’s dividend payout ratio is presently 32.57%.

Institutional Investors Weigh In On GE Vernova

Several hedge funds have recently modified their holdings of GEV. Synergy Asset Management LLC increased its holdings in shares of GE Vernova by 300.0% in the 3rd quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock worth $1,078,000 after acquiring an additional 1,413 shares during the period. Pines Wealth Management LLC bought a new position in GE Vernova during the second quarter valued at about $408,000. Kercheville Advisors LLC boosted its position in shares of GE Vernova by 238.3% during the 3rd quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock valued at $3,016,000 after purchasing an additional 3,455 shares in the last quarter. Dupree Financial Group LLC bought a new stake in GE Vernova during the second quarter worth approximately $253,000. Finally, Nordea Investment Management AB boosted its stake in shares of GE Vernova by 136.1% during the 3rd 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.