GE Vernova (NYSE:GEV) Stock Price Down 3.5% – Should You Sell?

GE Vernova Inc. (NYSE:GEVGet Free Report) shares dropped 3.5% during trading on Thursday . The stock traded as low as $990.46 and last traded at $996.00. Approximately 3,000,211 shares were traded during mid-day trading, an increase of 12% from the average daily volume of 2,689,092 shares. The stock had previously closed at $1,031.89.

Wall Street Analysts Forecast Growth

GEV has been the subject of several research reports. BNP Paribas Exane downgraded GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 target price for the company. in a research note on Monday, April 27th. Argus set a $1,300.00 price target on shares of GE Vernova in a research report on Monday, April 27th. Mizuho set a $714.00 price target on shares of GE Vernova in a research report on Tuesday, February 3rd. Erste Group Bank raised shares of GE Vernova to a “strong-buy” rating in a research report on Tuesday, March 24th. Finally, China Renaissance raised shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, January 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $1,090.76.

Check Out Our Latest Analysis on GE Vernova

GE Vernova Stock Performance

The company’s 50-day moving average is $991.69 and its two-hundred day moving average is $802.21. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. The firm has a market cap of $267.65 billion, a P/E ratio of 29.01, a PEG ratio of 4.01 and a beta of 1.51.

GE Vernova (NYSE:GEVGet Free Report) last posted its earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm had revenue of $9.34 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter last year, the firm earned $0.91 EPS. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. As a group, equities analysts predict that GE Vernova Inc. will post 14.84 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 5.83%.

Insider Activity at GE Vernova

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 shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This trade represents a 39.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GE Vernova

Hedge funds have recently modified their holdings of the company. Manning & Napier Advisors LLC lifted its position in shares of GE Vernova by 68.4% during 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 in the last quarter. Torren Management LLC bought a new position in shares of GE Vernova during the 4th quarter worth approximately $26,000. Cornerstone Financial Management LLC bought a new position in shares of GE Vernova during the 4th quarter worth approximately $25,000. Jackson Grant Investment Advisers Inc. lifted its position in shares of GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after buying an additional 31 shares in the last quarter. Finally, Wealth Watch Advisors INC bought a new position in shares of GE Vernova during the 3rd quarter worth approximately $25,000.

GE Vernova Company Profile

(Get Free Report)

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.

See Also

Receive News & Ratings for GE Vernova Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GE Vernova and related companies with MarketBeat.com's FREE daily email newsletter.