GE Vernova (NYSE:GEV) Shares Down 1.6% – Time to Sell?

Shares of GE Vernova Inc. (NYSE:GEV) fell 1.6% during mid-day trading on Monday . The company traded as low as $882.00 and last traded at $897.30. 3,543,506 shares were traded during mid-day trading, an increase of 30% from the average session volume of 2,729,615 shares. The stock had previously closed at $911.93.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Royal Bank Of Canada lifted their price objective on GE Vernova from $1,195.00 to $1,225.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of GE Vernova in a report on Tuesday, July 21st. Jefferies Financial Group reaffirmed a “buy” rating on shares of GE Vernova in a research note on Monday, July 27th. Sanford C. Bernstein lifted their price target on GE Vernova from $1,206.00 to $1,298.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Finally, BMO Capital Markets reissued an “outperform” rating on shares of GE Vernova in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,133.15.

GE Vernova Trading Down 1.6%

The stock has a market cap of $238.98 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 3.28 and a beta of 1.21. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. The company’s 50-day moving average price is $1,031.82 and its 200 day moving average price is $975.58.

GE Vernova (NYSE:GEV) last issued 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). The business had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The company’s revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.86 earnings per share. On average, sell-side analysts forecast that GE Vernova Inc. will post 15.46 EPS for the current fiscal year.

Hedge Funds Weigh In On GE Vernova

A number of hedge funds have recently modified their holdings of GEV. B. Metzler seel. Sohn & Co. AG grew its holdings in GE Vernova by 37.7% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 23,080 shares of the company’s stock worth $27,116,000 after acquiring an additional 6,313 shares during the period. World Investment Advisors lifted its holdings in GE Vernova by 19.9% in the 4th quarter. World Investment Advisors now owns 13,497 shares of the company’s stock valued at $8,821,000 after acquiring an additional 2,241 shares during the last quarter. RiverFront Investment Group LLC boosted its position in shares of GE Vernova by 239.2% during the 4th quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock valued at $1,432,000 after purchasing an additional 1,545 shares in the last quarter. Citizens Financial Group Inc. RI bought a new position in shares of GE Vernova during the 2nd quarter valued at about $8,337,000. Finally, Morse Asset Management Inc grew its stake in shares of GE Vernova by 25.8% in the 4th quarter. Morse Asset Management Inc now owns 4,645 shares of the company’s stock worth $3,036,000 after purchasing an additional 952 shares during the last quarter.

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.