GE Vernova (NYSE:GEV) Stock Price Down 3.4% – Time to Sell?

GE Vernova Inc. (NYSE:GEV) shares fell 3.4% on Monday . The stock traded as low as $980.14 and last traded at $1,013.6120. 3,107,263 shares changed hands during mid-day trading, an increase of 14% from the average session volume of 2,729,640 shares. The stock had previously closed at $1,049.23.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GEV shares. The Goldman Sachs Group reissued a “buy” rating and issued a $1,328.00 price target on shares of GE Vernova in a report on Friday, April 24th. TD Cowen lifted their target price on GE Vernova from $780.00 to $1,220.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. UBS Group reissued a “buy” rating on shares of GE Vernova in a research note on Thursday, January 29th. Susquehanna set a $1,300.00 price target on GE Vernova in a report on Thursday, April 23rd. Finally, Erste Group Bank raised GE Vernova to a “strong-buy” rating in a research report on Tuesday, March 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,090.76.

GE Vernova Stock Down 3.4%

The firm has a market capitalization of $272.38 billion, a P/E ratio of 29.53, a PEG ratio of 3.93 and a beta of 1.51. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The firm’s 50-day moving average is $957.76 and its 200 day moving average is $775.95.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. The firm had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. As a group, equities research analysts predict that GE Vernova Inc. will post 14.84 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, March 17th. GE Vernova’s dividend payout ratio (DPR) is currently 5.83%.

Hedge Funds Weigh In On GE Vernova

A number of large investors have recently bought and sold shares of the company. Auto Owners Insurance Co increased its stake in GE Vernova by 110,973.4% in the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after buying an additional 34,826,773 shares during the last quarter. Vanguard Group Inc. increased its position in shares of GE Vernova by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock valued at $16,354,691,000 after acquiring an additional 208,162 shares during the last quarter. State Street Corp increased its position in shares of GE Vernova by 2.1% in the fourth quarter. State Street Corp now owns 11,469,670 shares of the company’s stock valued at $7,496,232,000 after acquiring an additional 231,392 shares during the last quarter. Geode Capital Management LLC grew its stake in GE Vernova by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock valued at $4,074,039,000 after purchasing an additional 68,894 shares in the last quarter. Finally, Morgan Stanley grew its stake in GE Vernova by 12.8% in the fourth quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock valued at $3,957,024,000 after purchasing an additional 685,466 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.