GE Vernova (NYSE:GEV) Stock Price Down 3.6% – Should You Sell?

GE Vernova Inc. (NYSE:GEV)’s stock price was down 3.6% on Wednesday . The company traded as low as $1,017.33 and last traded at $1,031.6070. Approximately 2,261,456 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 2,686,468 shares. The stock had previously closed at $1,070.47.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on GEV shares. Robert W. Baird boosted their price objective on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Jefferies Financial Group boosted their price objective on shares of GE Vernova from $965.00 to $1,350.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Susquehanna set a $1,300.00 price objective on shares of GE Vernova in a research report on Thursday, April 23rd. Finally, Mizuho set a $714.00 price objective on shares of 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 assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,090.76.

GE Vernova Stock Down 3.6%

The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The firm’s 50-day moving average is $987.58 and its 200 day moving average is $798.82. The stock has a market cap of $277.21 billion, a price-to-earnings ratio of 30.05, a price-to-earnings-growth ratio of 3.89 and a beta of 1.51.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the prior year, the business posted $0.91 earnings per share. GE Vernova’s revenue for the quarter was up 17.0% compared to the same quarter last year. Sell-side analysts anticipate that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is 5.83%.

Insider Buying and Selling

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On GE Vernova

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jackson Grant Investment Advisers Inc. increased its holdings 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 purchasing an additional 31 shares in the last quarter. Cornerstone Financial Management LLC acquired a new stake in GE Vernova in the 4th quarter valued at $25,000. Wealth Watch Advisors INC acquired a new stake in GE Vernova in the 3rd quarter valued at $25,000. Torren Management LLC acquired a new stake in GE Vernova in the 4th quarter valued at $26,000. Finally, Manning & Napier Advisors LLC increased its holdings in GE Vernova by 68.4% in the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after purchasing an additional 13 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.