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

GE Vernova Inc. (NYSE:GEV)’s share price was down 3.1% on Friday . The stock traded as low as $421.19 and last traded at $424.31. Approximately 1,033,515 shares were traded during trading, a decline of 65% from the average daily volume of 2,913,513 shares. The stock had previously closed at $437.71.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GEV shares. Raymond James lowered shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. TD Cowen initiated coverage on shares of GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 price target on the stock. Barclays lifted their price target on shares of GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Evercore ISI lifted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $339.73.

GE Vernova Price Performance

The stock’s 50-day simple moving average is $351.59 and its 200 day simple moving average is $270.59. The stock has a market capitalization of $115.92 billion and a P/E ratio of 75.74.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts expect that GE Vernova Inc. will post 6.61 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.24%. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

GE Vernova announced that its Board of Directors has initiated a share buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On GE Vernova

A number of institutional investors have recently modified their holdings of the business. Sutton Place Investors LLC bought a new stake in shares of GE Vernova in the fourth quarter valued at about $212,000. U.S. Capital Wealth Advisors LLC lifted its position in GE Vernova by 15.4% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,879 shares of the company’s stock worth $2,920,000 after purchasing an additional 1,182 shares during the period. Greenleaf Trust lifted its position in GE Vernova by 6.0% during the fourth quarter. Greenleaf Trust now owns 5,977 shares of the company’s stock worth $1,966,000 after purchasing an additional 340 shares during the period. Spire Wealth Management bought a new stake in GE Vernova during the fourth quarter worth about $978,000. Finally, Journey Strategic Wealth LLC lifted its position in GE Vernova by 35.8% during the fourth quarter. Journey Strategic Wealth LLC now owns 1,769 shares of the company’s stock worth $582,000 after purchasing an additional 466 shares during the period.

GE Vernova Company Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.