GE Vernova (NYSE:GEV) Shares Down 1.9% – Time to Sell?

GE Vernova Inc. (NYSE:GEV) shares dropped 1.9% during trading on Thursday . The company traded as low as $997.12 and last traded at $998.35. 1,687,078 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 2,803,417 shares. The stock had previously closed at $1,017.96.

Analysts Set New Price Targets

GEV has been the topic of several research reports. Jefferies Financial Group reiterated a “buy” rating on shares of GE Vernova in a report on Monday, July 27th. JPMorgan Chase & Co. lifted their target price on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Sanford C. Bernstein upped their price target on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada increased their price target on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Finally, Guggenheim boosted their price objective on GE Vernova from $1,300.00 to $1,450.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $1,133.15.

GE Vernova Stock Down 1.9%

The stock’s fifty day simple moving average is $1,026.14 and its 200-day simple moving average is $942.64. The stock has a market cap of $265.89 billion, a P/E ratio of 28.57, a P/E/G ratio of 3.63 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.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. During the same quarter in the previous year, the business posted $1.86 EPS. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. As a group, research analysts forecast that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is 5.72%.

Insider Activity

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the transaction, the chief accounting officer directly owned 3,549 shares in the company, valued at $3,758,710.41. This represents a 39.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the transaction, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GE Vernova

Large investors have recently added to or reduced their stakes in the business. World Investment Advisors raised its holdings in shares of GE Vernova by 19.9% during the fourth quarter. World Investment Advisors now owns 13,497 shares of the company’s stock worth $8,821,000 after purchasing an additional 2,241 shares during the period. Merit Financial Group LLC grew its position in shares of GE Vernova by 17.4% during the 4th quarter. Merit Financial Group LLC now owns 15,080 shares of the company’s stock valued at $9,856,000 after buying an additional 2,230 shares during the last quarter. Vest Financial LLC grew its position in shares of GE Vernova by 56.7% during the 4th quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock valued at $43,260,000 after buying an additional 23,956 shares during the last quarter. Riverbend Wealth Management LLC acquired a new stake in GE Vernova during the fourth quarter worth about $567,000. Finally, RiverFront Investment Group LLC raised its stake in GE Vernova by 239.2% during the fourth quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock worth $1,432,000 after acquiring an additional 1,545 shares during the period.

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.