GE Vernova (NYSE:GEV) Stock Price Down 1.4% – Time to Sell?

GE Vernova Inc. (NYSE:GEV)’s stock price was down 1.4% during mid-day trading on Tuesday . The stock traded as low as $787.00 and last traded at $790.62. Approximately 2,394,531 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 3,373,123 shares. The stock had previously closed at $801.54.

Analyst Ratings Changes

Several equities research analysts have issued reports on GEV shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of GE Vernova in a research note on Wednesday, December 10th. Royal Bank Of Canada upped their target price on GE Vernova from $761.00 to $800.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Mizuho set a $714.00 price target on shares of GE Vernova in a research note on Tuesday, February 3rd. Susquehanna upped their price objective on shares of GE Vernova from $800.00 to $820.00 and gave the company a “positive” rating in a research note on Thursday, January 29th. Finally, Barclays reaffirmed an “overweight” rating and set a $849.00 target price on shares of GE Vernova in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Trading Down 1.4%

The business has a fifty day moving average of $674.49 and a 200-day moving average of $630.80. The company has a market cap of $213.10 billion, a PE ratio of 44.42, a P/E/G ratio of 3.10 and a beta of 1.67.

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

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, January 5th were issued a $0.50 dividend. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, January 5th. This represents a $2.00 annualized dividend and a yield of 0.3%. GE Vernova’s dividend payout ratio (DPR) is currently 11.24%.

Hedge Funds Weigh In On GE Vernova

Several hedge funds and other institutional investors have recently modified their holdings of GEV. Jackson Grant Investment Advisers Inc. lifted its stake in shares of GE Vernova by 344.4% in the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the period. Wealth Watch Advisors INC bought a new position in GE Vernova in the third quarter worth $25,000. Torren Management LLC purchased a new position in GE Vernova during the fourth quarter valued at $26,000. ORG Wealth Partners LLC boosted its holdings in shares of GE Vernova by 241.7% during the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after buying an additional 29 shares in the last quarter. Finally, Navalign LLC purchased a new stake in shares of GE Vernova in the 4th quarter worth about $27,000.

GE Vernova Company Profile

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.