GE Vernova (NYSE:GEV) Trading Down 6.8% – Here’s What Happened

GE Vernova Inc. (NYSE:GEV) traded down 6.8% on Tuesday . The stock traded as low as $986.17 and last traded at $1,005.9740. 2,806,129 shares changed hands during trading, an increase of 2% from the average session volume of 2,757,370 shares. The stock had previously closed at $1,079.00.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Robert W. Baird increased their price target on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Sanford C. Bernstein increased their target price on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Susquehanna set a $1,300.00 target price on GE Vernova in a research report on Thursday, April 23rd. Guggenheim boosted their target price on GE Vernova from $1,300.00 to $1,450.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $1,328.00 target price on shares of GE Vernova in a research report on Friday, April 24th. 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,133.15.

GE Vernova Price Performance

The company has a market cap of $267.93 billion, a price-to-earnings ratio of 28.79, a PEG ratio of 3.79 and a beta of 1.21. The company’s 50 day moving average price is $1,037.03 and its 200 day moving average price is $962.56. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The business had revenue of $11.10 billion for 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 business’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period last year, the company posted $1.86 earnings per share. Equities research analysts forecast that GE Vernova Inc. will post 15.57 earnings per share for the current year.

Insider Transactions at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the stock in a transaction on Monday, June 1st. The stock was 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 in the company, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On GE Vernova

Several institutional investors have recently made changes to their positions in GEV. Onyx Bridge Wealth Group LLC raised its position in shares of GE Vernova by 1.3% during the 1st quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company’s stock worth $635,000 after purchasing an additional 9 shares during the last quarter. Red Door Wealth Management LLC increased its position in GE Vernova by 0.6% during the first quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company’s stock worth $1,548,000 after buying an additional 10 shares in the last quarter. Advance Capital Management Inc. raised its holdings in shares of GE Vernova by 2.2% in the first quarter. Advance Capital Management Inc. now owns 461 shares of the company’s stock worth $402,000 after acquiring an additional 10 shares during the last quarter. Alpha Financial Partners LLC lifted its position in shares of GE Vernova by 2.0% in the first quarter. Alpha Financial Partners LLC now owns 514 shares of the company’s stock valued at $449,000 after acquiring an additional 10 shares in the last quarter. Finally, Sandy Cove Advisors LLC lifted its holdings in GE Vernova by 2.6% in the 2nd quarter. Sandy Cove Advisors LLC now owns 389 shares of the company’s stock valued at $457,000 after purchasing an additional 10 shares in the last quarter.

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.