GE Vernova (NYSE:GEV) Stock Price Down 2.1% – Time to Sell?

GE Vernova Inc. (NYSE:GEV) shares were down 2.1% during trading on Tuesday. The company traded as low as $877.44 and last traded at $888.9350. Approximately 2,412,143 shares changed hands during trading, a decline of 9% from the average session volume of 2,636,570 shares. The stock had previously closed at $908.44.

Analyst Ratings Changes

Several analysts have commented on GEV shares. Oppenheimer upped their target price on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. TD Cowen increased their price target on GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. President Capital raised their price target on GE Vernova from $1,368.00 to $1,398.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Susquehanna decreased their price objective on GE Vernova from $1,300.00 to $1,270.00 and set a “positive” rating for the company in a research note on Wednesday, October 14th. Finally, BNP Paribas Exane decreased their price objective on GE Vernova from $1,190.00 to $1,090.00 and set a “neutral” rating for the company in a research note on Thursday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $1,164.87.

GE Vernova Trading Down 2.1%

The company has a market capitalization of $236.75 billion, a P/E ratio of 25.44, a PEG ratio of 3.19 and a beta of 1.14. The business has a 50 day moving average price of $961.19 and a 200 day moving average price of $1,002.63. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%. The firm had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. During the same period in the previous year, the business earned $1.86 EPS. The firm’s revenue was up 21.9% compared to the same quarter last year. Analysts anticipate that GE Vernova Inc. will post 15.04 EPS for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, October 27th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, October 27th. GE Vernova’s dividend payout ratio is presently 5.72%.

Hedge Funds Weigh In On GE Vernova

A number of hedge funds and other institutional investors have recently made changes to their positions in GEV. Cornerstone National Bank & Trust Co acquired a new stake in shares of GE Vernova during the third quarter worth about $162,000. Dagco Inc. lifted its holdings in shares of GE Vernova by 60.8% during the 3rd quarter. Dagco Inc. now owns 328 shares of the company’s stock valued at $312,000 after purchasing an additional 124 shares in the last quarter. Cypress Capital LLC grew its position in shares of GE Vernova by 7.3% in the 3rd quarter. Cypress Capital LLC now owns 324 shares of the company’s stock valued at $308,000 after purchasing an additional 22 shares during the period. Genesee Capital Advisors LLC grew its position in shares of GE Vernova by 12.9% in the 3rd quarter. Genesee Capital Advisors LLC now owns 596 shares of the company’s stock valued at $567,000 after purchasing an additional 68 shares during the period. Finally, Commonwealth Financial Services LLC grew its position in shares of GE Vernova by 21.8% in the 3rd quarter. Commonwealth Financial Services LLC now owns 363 shares of the company’s stock valued at $345,000 after purchasing an additional 65 shares during the period.

GE Vernova Company Profile

GE Vernova Inc (NYSE: GEV) is an energy technology company focused on helping generate, transmit, store and deliver electricity. The company serves utilities, power producers, grid operators, commercial and industrial customers, and other energy-sector participants worldwide.

Its business is organized around three primary areas: Power, Wind and Electrification. Power provides technologies and services for gas and steam power generation, hydropower, nuclear power and other energy systems.