GE Vernova (NYSE:GEV) Trading Down 1.7% – Time to Sell?

GE Vernova Inc. (NYSE:GEV) shares were down 1.7% during trading on Tuesday . The stock traded as low as $923.54 and last traded at $925.7430. 2,016,365 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 2,739,538 shares. The stock had previously closed at $942.10.

Analyst Ratings Changes

Several equities research analysts have commented on GEV shares. JPMorgan Chase & Co. boosted their target price on 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. Wall Street Zen cut shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Guggenheim raised 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. Royal Bank Of Canada lifted 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 research note on Thursday, July 23rd. Finally, Morgan Stanley downgraded shares of GE Vernova from an “overweight” rating to an “underweight” rating in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $1,133.15.

GE Vernova Stock Down 0.3%

The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The firm’s 50 day moving average is $1,038.97 and its two-hundred day moving average is $973.57. The firm has a market capitalization of $253.19 billion, a P/E ratio of 27.20, a PEG ratio of 3.33 and a beta of 1.21.

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 the consensus estimate of $3.17 by ($0.70). The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter last year, the business posted $1.86 earnings per share. Research analysts predict that GE Vernova Inc. will post 15.46 EPS for the current year.

Insider Buying and Selling at GE Vernova

In related 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.

Institutional Trading of GE Vernova

Hedge funds and other institutional investors have recently modified their holdings of the stock. Brighton Jones LLC grew its position in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after purchasing an additional 753 shares during the last quarter. Schnieders Capital Management LLC. boosted its stake in GE Vernova by 1.7% in the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after purchasing an additional 26 shares during the period. Jump Financial LLC acquired a new position in GE Vernova in the 2nd quarter valued at $258,000. Ossiam bought a new position in GE Vernova during the 2nd quarter worth $42,000. Finally, Nebula Research & Development LLC increased its position in GE Vernova by 23.9% during the 2nd quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock worth $886,000 after buying an additional 323 shares during the period.

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.