GE Vernova (NYSE:GEV) Shares Down 2.2% – Time to Sell?

GE Vernova Inc. (NYSE:GEV) shares dropped 2.2% on Thursday . The company traded as low as $942.36 and last traded at $965.58. Approximately 2,634,536 shares changed hands during trading, a decline of 4% from the average session volume of 2,755,703 shares. The stock had previously closed at $987.46.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Susquehanna set a $1,300.00 price objective on shares of GE Vernova in a report on Thursday, April 23rd. Guggenheim upped their target price on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Wall Street Zen downgraded GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. BNP Paribas Exane lowered GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target on the stock. in a research report on Monday, April 27th. Finally, Morgan Stanley lowered GE Vernova from an “overweight” rating to an “underweight” rating in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,133.15.

GE Vernova Stock Down 2.2%

The firm has a market cap of $257.16 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 3.58 and a beta of 1.21. The firm’s 50 day moving average is $1,041.16 and its two-hundred day moving average is $966.52. 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 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). The firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.86 EPS. As a group, research analysts anticipate that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

Insider Activity at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the sale, the chief executive officer owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GE Vernova

Several large investors have recently modified their holdings of GEV. Cornerstone Financial Management LLC acquired a new stake in GE Vernova during the 4th quarter worth approximately $25,000. Wealth Watch Advisors INC acquired a new position in shares of GE Vernova in the third quarter valued at approximately $25,000. Torren Management LLC acquired a new position in shares of GE Vernova in the fourth quarter valued at approximately $26,000. Manning & Napier Advisors LLC increased its position in shares of GE Vernova by 68.4% during the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after acquiring an additional 13 shares in the last quarter. Finally, Navalign LLC bought a new stake in shares of GE Vernova during the fourth quarter worth $27,000.

About GE Vernova

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.