GE Vernova (NYSE:GEV) Trading Down 1% – Should You Sell?

GE Vernova Inc. (NYSE:GEV)’s stock price was down 1% on Monday . The company traded as low as $990.18 and last traded at $992.5910. Approximately 1,758,637 shares traded hands during trading, a decline of 36% from the average daily volume of 2,732,427 shares. The stock had previously closed at $1,002.75.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on GEV shares. Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 target price on the stock in a research report on Friday, January 30th. UBS Group reissued a “buy” rating on shares of GE Vernova in a research report on Thursday, January 29th. Jefferies Financial Group reissued a “buy” rating and set a $930.00 target price on shares of GE Vernova in a research report on Thursday, January 29th. Weiss Ratings raised shares of GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Finally, Morgan Stanley boosted their target price on shares of GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a research report on Monday, March 23rd. Three analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Buy” and a consensus price target of $919.48.

GE Vernova Stock Down 1.0%

The business’s 50-day moving average is $870.22 and its two-hundred day moving average is $716.06. The company has a market capitalization of $266.87 billion, a P/E ratio of 55.76, a price-to-earnings-growth ratio of 3.92 and a beta of 1.43.

GE Vernova (NYSE:GEV) last released its quarterly earnings results 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 company 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 firm’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $1.73 earnings per share. Analysts predict that GE Vernova Inc. will post 14.2 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, March 17th. GE Vernova’s dividend payout ratio (DPR) is presently 11.24%.

Hedge Funds Weigh In On GE Vernova

Several institutional investors have recently added to or reduced their stakes in the stock. Dopkins Wealth Management LLC grew its position in GE Vernova by 33.8% during the first quarter. Dopkins Wealth Management LLC now owns 637 shares of the company’s stock valued at $556,000 after buying an additional 161 shares during the period. Greenup Street Wealth Management LLC purchased a new position in GE Vernova in the first quarter valued at approximately $214,000. Hilton Head Capital Partners LLC lifted its stake in GE Vernova by 2.6% in the first quarter. Hilton Head Capital Partners LLC now owns 476 shares of the company’s stock valued at $416,000 after purchasing an additional 12 shares during the last quarter. Live Oak Private Wealth LLC raised its stake in GE Vernova by 19.1% in the 1st quarter. Live Oak Private Wealth LLC now owns 480 shares of the company’s stock valued at $419,000 after acquiring an additional 77 shares during the period. Finally, Blue Trust Inc. boosted its stake in GE Vernova by 5.2% in the 1st quarter. Blue Trust Inc. now owns 2,923 shares of the company’s stock worth $2,551,000 after purchasing an additional 145 shares during the period.

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.