GE Vernova (NYSE:GEV) Stock Price Down 1.8% – What’s Next?

GE Vernova Inc. (NYSE:GEV)’s share price was down 1.8% during mid-day trading on Thursday . The stock traded as low as $545.41 and last traded at $549.81. Approximately 2,199,983 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 3,401,589 shares. The stock had previously closed at $559.70.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GEV. JPMorgan Chase & Co. lifted their target price on shares of GE Vernova from $715.00 to $740.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Bank of America upped their price target on GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. TD Cowen dropped their price objective on GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Mizuho reduced their target price on shares of GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Finally, Melius Research set a $740.00 target price on shares of GE Vernova and gave the stock a “buy” rating in a research report on Monday, September 15th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $607.81.

GE Vernova Stock Performance

The stock has a 50-day simple moving average of $602.58 and a 200 day simple moving average of $548.30. The stock has a market capitalization of $156.18 billion, a P/E ratio of 93.75, a price-to-earnings-growth ratio of 4.09 and a beta of 1.68.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). The firm had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company’s revenue was up 11.8% compared to the same quarter last year. During the same period last year, the company earned ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is 16.29%.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the sale, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.15% of the company’s stock.

Institutional Trading of GE Vernova

Hedge funds have recently added to or reduced their stakes in the business. Sachetta LLC lifted its holdings in shares of GE Vernova by 10.7% during the 2nd quarter. Sachetta LLC now owns 165 shares of the company’s stock valued at $87,000 after purchasing an additional 16 shares in the last quarter. Good Life Advisors LLC raised its holdings in GE Vernova by 1.0% during the 2nd quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock worth $875,000 after buying an additional 16 shares during the period. Bell Investment Advisors Inc lifted its stake in GE Vernova by 6.7% in the second quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock valued at $135,000 after buying an additional 16 shares in the last quarter. Northwest Wealth Management LLC increased its position in shares of GE Vernova by 3.6% during the third quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock worth $286,000 after acquiring an additional 16 shares in the last quarter. Finally, AMG National Trust Bank raised its holdings in shares of GE Vernova by 1.5% during the second quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock worth $606,000 after acquiring an additional 17 shares during the period.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.