GE Vernova (NYSE:GEV) Trading Down 1% – Time to Sell?

Shares of GE Vernova Inc. (NYSE:GEV) traded down 1% during mid-day trading on Friday . The company traded as low as $963.54 and last traded at $990.15. Approximately 2,229,272 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 2,800,596 shares. The stock had previously closed at $1,000.30.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of analyst reports. William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Monday, August 3rd. Wall Street Zen downgraded GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Jefferies Financial Group reaffirmed a “buy” rating on shares of GE Vernova in a research report on Monday, July 27th. Guggenheim increased 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. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of GE Vernova in a research report on Tuesday, July 21st. Two equities research 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 given a Sell rating to the stock. Based on data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average price target of $1,133.15.

GE Vernova Stock Down 1.0%

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 firm has a market capitalization of $263.71 billion, a P/E ratio of 28.34, a price-to-earnings-growth ratio of 3.53 and a beta of 1.21. The company’s fifty day simple moving average is $1,026.62 and its 200 day simple moving average is $945.18.

GE Vernova (NYSE:GEV) last posted 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 company had revenue of $11.10 billion during 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 company’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.86 earnings per share. Research analysts expect that GE Vernova Inc. will post 15.57 EPS for the current year.

GE Vernova Announces Dividend

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

Insider Activity

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the sale, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On GE Vernova

Hedge funds have recently made changes to their positions in the company. Cornerstone Financial Management LLC bought a new position in GE Vernova in the fourth quarter worth $25,000. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova during the 3rd quarter valued at $25,000. Torren Management LLC bought a new stake in shares of GE Vernova during the 4th quarter valued at $26,000. Manning & Napier Advisors LLC grew its position in shares of GE Vernova by 68.4% in the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after buying an additional 13 shares during the period. Finally, Navalign LLC purchased a new stake in shares of GE Vernova in the 4th quarter worth about $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.