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

Shares of GE Vernova Inc. (NYSE:GEVGet Free Report) fell 1.7% during trading on Wednesday . The stock traded as low as $963.76 and last traded at $987.0510. 2,029,939 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 2,756,310 shares. The stock had previously closed at $1,004.53.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on GE Vernova from $1,302.00 to $1,330.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Wall Street Zen cut shares of GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Jefferies Financial Group reissued a “buy” rating on shares of GE Vernova in a report on Monday, July 27th. Argus set a $1,300.00 price objective on GE Vernova in a research note on Monday, April 27th. Finally, Barclays raised their target price on shares of GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $1,133.15.

Read Our Latest Analysis on GEV

GE Vernova Stock Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. The firm has a 50 day moving average price of $1,038.75 and a 200-day moving average price of $964.62. The company has a market cap of $262.88 billion, a P/E ratio of 28.25, a P/E/G ratio of 3.79 and a beta of 1.21.

GE Vernova (NYSE:GEVGet Free Report) last posted its quarterly earnings data 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). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. During the same quarter in the previous year, the firm posted $1.86 EPS. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, research analysts predict that GE Vernova Inc. will post 15.57 EPS for the current year.

Insider Buying and Selling

In related news, CEO Victor Abate sold 4,819 shares of the company’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 completion of the transaction, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On GE Vernova

Institutional investors have recently modified their holdings of the business. Onyx Bridge Wealth Group LLC grew its position in shares of GE Vernova by 1.3% during the 1st quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company’s stock valued at $635,000 after acquiring an additional 9 shares during the period. Red Door Wealth Management LLC lifted its position in shares of GE Vernova by 0.6% during the 1st quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company’s stock valued at $1,548,000 after buying an additional 10 shares in the last quarter. Advance Capital Management Inc. grew its stake in GE Vernova by 2.2% in the 1st quarter. Advance Capital Management Inc. now owns 461 shares of the company’s stock valued at $402,000 after acquiring an additional 10 shares during the period. Alpha Financial Partners LLC raised its position in GE Vernova by 2.0% during the first quarter. Alpha Financial Partners LLC now owns 514 shares of the company’s stock worth $449,000 after acquiring an additional 10 shares during the period. Finally, Sandy Cove Advisors LLC raised its position in GE Vernova by 2.6% during the second quarter. Sandy Cove Advisors LLC now owns 389 shares of the company’s stock worth $457,000 after acquiring an additional 10 shares during the period.

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.

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