GE Vernova (NYSE:GEV) Trading Down 4.3% – Should You Sell?

GE Vernova Inc. (NYSE:GEV)’s stock price dropped 4.3% on Monday . The stock traded as low as $807.00 and last traded at $816.1530. Approximately 2,812,296 shares changed hands during mid-day trading, a decline of 3% from the average daily volume of 2,885,477 shares. The stock had previously closed at $853.16.

Analyst Ratings Changes

Several brokerages recently issued reports on GEV. Robert W. Baird set a $923.00 target price on shares of GE Vernova and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Wolfe Research upgraded shares of GE Vernova from a “peer perform” rating to a “buy” rating in a report on Wednesday, December 10th. China Renaissance raised shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, January 29th. BMO Capital Markets restated an “outperform” rating and issued a $785.00 target price on shares of GE Vernova in a research note on Thursday, January 29th. Finally, Mizuho set a $714.00 target price on GE Vernova in a research report on Tuesday, February 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $854.52.

GE Vernova Stock Performance

The stock’s 50 day simple moving average is $802.93 and its 200 day simple moving average is $682.73. The firm has a market cap of $219.98 billion, a P/E ratio of 45.85, a price-to-earnings-growth ratio of 3.35 and a beta of 1.45.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. The firm had revenue of $10.96 billion for the quarter, compared to analyst estimates of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $1.73 earnings per share. As a group, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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 given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is presently 11.24%.

Institutional Trading of GE Vernova

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jackson Grant Investment Advisers Inc. raised its position in GE Vernova by 344.4% in the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after buying an additional 31 shares during the last quarter. Cornerstone Financial Management LLC purchased a new position in GE Vernova during the 4th quarter worth $25,000. Wealth Watch Advisors INC purchased a new position in GE Vernova during the 3rd quarter worth $25,000. Torren Management LLC bought a new stake in shares of GE Vernova in the 4th quarter worth $26,000. Finally, ORG Wealth Partners LLC raised its holdings in shares of GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after purchasing an additional 29 shares during the last quarter.

About GE Vernova

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.