GE Vernova (NYSE:GEV) Shares Down 1.5% – Should You Sell?

GE Vernova Inc. (NYSE:GEV) dropped 1.5% during trading on Monday . The stock traded as low as $925.74 and last traded at $942.6890. Approximately 1,888,369 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 2,744,054 shares. The stock had previously closed at $956.85.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GEV shares. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Monday, August 3rd. Jefferies Financial Group reissued a “buy” rating on shares of GE Vernova in a research report on Monday, July 27th. Argus set a $1,300.00 price target on shares of GE Vernova in a research note on Monday, April 27th. TD Cowen raised their price target on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Two research 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,133.15.

GE Vernova Trading Down 1.5%

The stock has a market capitalization of $251.07 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 3.41 and a beta of 1.21. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average of $1,042.72 and a two-hundred day moving average of $969.61.

GE Vernova (NYSE:GEV) last announced its quarterly 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). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. During the same quarter last year, the business earned $1.86 EPS. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. On average, research analysts expect that GE Vernova Inc. will post 15.57 EPS for the current year.

Insider Transactions at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Parvin Asset Management LLC acquired a new stake in shares of GE Vernova during the 2nd quarter valued at about $32,000. Pingora Partners LLC bought a new position in GE Vernova during the second quarter worth about $36,000. Manning & Napier Advisors LLC lifted its stake in 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 purchasing an additional 13 shares during the period. IMG Wealth Management Inc. acquired a new stake in GE Vernova during the second quarter valued at approximately $39,000. Finally, Miller Global Investments LLC boosted its holdings in GE Vernova by 63.6% during the second quarter. Miller Global Investments LLC now owns 36 shares of the company’s stock valued at $42,000 after purchasing an additional 14 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.