GE Vernova (NYSE:GEV) Stock Falls 9.4% on Analyst Downgrade

GE Vernova Inc. (NYSE:GEV)’s stock price traded down 9.4% during mid-day trading on Wednesday after Argus lowered their price target on the stock from $1,300.00 to $1,100.00. Argus currently has a buy rating on the stock. GE Vernova traded as low as $806.40 and last traded at $832.0240. 6,247,007 shares traded hands during mid-day trading, an increase of 130% from the average daily volume of 2,714,874 shares. The stock had previously closed at $918.20.

GEV has been the subject of a number of other reports. Evercore reiterated an “outperform” rating and issued a $1,350.00 target price on shares of GE Vernova in a report on Thursday, October 1st. Weiss Ratings restated a “buy (b)” rating on shares of GE Vernova in a report on Monday, October 19th. JPMorgan Chase & Co. reduced their price objective on shares of GE Vernova from $1,150.00 to $1,035.00 and set an “overweight” rating for the company in a research report on Thursday, October 29th. BNP Paribas Exane lowered their price objective on shares of 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. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $1,200.00 target price on shares of GE Vernova in a research report on Thursday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,144.20.

GE Vernova News Summary

Here are the key news stories impacting GE Vernova this week:

• Positive Sentiment: Bernstein reaffirmed its Buy rating, arguing that concerns about political limits on U.S. data-center construction are overblown. That view helped lift power-infrastructure stocks in the prior session. Bernstein Reaffirms Their Buy Rating on GE Vernova
• Positive Sentiment: BMO sees about 39% upside after GEV’s recent pullback, while earlier reports cited strong quarterly orders and raised company guidance as support for the longer-term outlook. BMO Sees Upside for GE Vernova
• Neutral Sentiment: GE Vernova’s planned $9 billion purchase of Trench Group would expand its grid-equipment business, which could benefit from rising electricity demand. The acquisition’s scale also makes its execution and cost relevant to investors. GE Vernova Is Paying $9 Billion for Trench Group
• Negative Sentiment: Guggenheim lowered its expectations for GEV, a fresh negative analyst signal that may weigh on sentiment amid the stock’s recent pullback. Guggenheim Has Lowered Expectations for GE Vernova

Institutional Investors Weigh In On GE Vernova

Hedge funds and other institutional investors have recently modified their holdings of the company. Parvin Asset Management LLC purchased a new stake in shares of GE Vernova during the 2nd quarter worth $32,000. Pingora Partners LLC purchased a new position in GE Vernova in the second quarter valued at about $36,000. Manning & Napier Advisors LLC grew its stake in GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after purchasing an additional 13 shares during the last quarter. IMG Wealth Management Inc. purchased a new position in GE Vernova in the second quarter valued at about $39,000. Finally, Miller Global Investments LLC raised its holdings in GE Vernova by 63.6% in the second quarter. Miller Global Investments LLC now owns 36 shares of the company’s stock worth $42,000 after purchasing an additional 14 shares in the last quarter.

GE Vernova Price Performance

The firm has a market capitalization of $220.22 billion, a P/E ratio of 21.83, a P/E/G ratio of 2.92 and a beta of 1.25. The stock’s fifty day simple moving average is $932.44 and its 200 day simple moving average is $942.76. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.62.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, October 28th. The company reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. GE Vernova had a net margin of 23.54% and a return on equity of 46.50%. The business had revenue of $12.64 billion for the quarter, compared to analysts’ expectations of $11.99 billion. During the same period last year, the business earned $1.64 EPS. The company’s revenue was up 26.8% compared to the same quarter last year. On average, equities research analysts predict that GE Vernova Inc. will post 16.05 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, October 27th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, October 27th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is presently 5.25%.

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.