GE Vernova (NYSE:GEV) Shares Down 3.1% – What’s Next?

GE Vernova Inc. (NYSE:GEV)’s stock price dropped 3.1% during trading on Friday . The company traded as low as $782.37 and last traded at $790.00. Approximately 2,658,065 shares were traded during trading, a decline of 11% from the average daily volume of 2,977,429 shares. The stock had previously closed at $815.01.

Analyst Ratings Changes

A number of brokerages recently issued reports on GEV. BMO Capital Markets reiterated an “outperform” rating and issued a $785.00 price target on shares of GE Vernova in a report on Thursday, January 29th. Morgan Stanley reiterated an “overweight” rating and issued a $817.00 target price on shares of GE Vernova in a report on Monday, January 26th. Royal Bank Of Canada increased their price target on GE Vernova from $761.00 to $800.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Oppenheimer restated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 29th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $930.00 price objective on shares of GE Vernova in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $805.25.

GE Vernova Trading Down 3.1%

The firm has a 50-day simple moving average of $740.55 and a 200-day simple moving average of $654.59. The firm has a market cap of $212.93 billion, a P/E ratio of 44.38, a PEG ratio of 3.35 and a beta of 1.45.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $10.40. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The firm had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. During the same period in the prior year, the business posted $1.73 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova’s dividend payout ratio is presently 11.24%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Union Savings Bank acquired a new stake in GE Vernova in the fourth quarter valued at approximately $540,000. Hsbc Holdings PLC increased its position in shares of GE Vernova by 20.4% during the fourth quarter. Hsbc Holdings PLC now owns 677,820 shares of the company’s stock worth $443,503,000 after purchasing an additional 114,917 shares in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of GE Vernova during the 4th quarter valued at $130,000. Pure Financial Advisors LLC boosted its position in shares of GE Vernova by 54.6% in the 4th quarter. Pure Financial Advisors LLC now owns 1,144 shares of the company’s stock worth $748,000 after purchasing an additional 404 shares in the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in GE Vernova during the 4th quarter worth $2,506,000.

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.