Shares of GE Vernova Inc. (NYSE:GEV – Get Free Report) fell 1.5% on Monday. The company traded as low as $903.92 and last traded at $907.7780. Approximately 2,614,232 shares were traded during mid-day trading, a decline of 1% from the average daily volume of 2,638,938 shares. The stock had previously closed at $921.20.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on GEV. JPMorgan Chase & Co. decreased their price target on GE Vernova from $1,330.00 to $1,150.00 and set an “overweight” rating on the stock in a research note on Friday, October 9th. President Capital boosted their price target on GE Vernova from $1,368.00 to $1,398.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Glj Research initiated coverage on GE Vernova in a research report on Monday, September 14th. They set a “sell” rating and a $470.00 price objective for the company. Susquehanna reduced their price objective on GE Vernova from $1,300.00 to $1,270.00 and set a “positive” rating on the stock in a research note on Wednesday, October 14th. Finally, Oppenheimer raised their price objective on GE Vernova from $1,303.00 to $1,338.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,164.87.
Check Out Our Latest Stock Report on GE Vernova
GE Vernova Stock Performance
The stock’s 50-day moving average is $958.76 and its 200-day moving average is $1,002.59. The firm has a market capitalization of $236.75 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 3.14 and a beta of 1.14. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21.
GE Vernova (NYSE:GEV – Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. GE Vernova’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.86 EPS. On average, analysts predict that GE Vernova Inc. will post 15.04 EPS for the current fiscal year.
GE Vernova Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, October 27th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, October 27th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is 5.72%.
Institutional Investors Weigh In On GE Vernova
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in GE Vernova in the 2nd quarter worth approximately $25,569,630,000. State Street Corp raised its position in shares of GE Vernova by 3.3% during the 2nd quarter. State Street Corp now owns 11,765,340 shares of the company’s stock valued at $13,828,380,000 after buying an additional 370,842 shares in the last quarter. Bank of America Corp DE raised its position in shares of GE Vernova by 20.1% during the 1st quarter. Bank of America Corp DE now owns 2,598,178 shares of the company’s stock valued at $2,267,949,000 after buying an additional 435,405 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of GE Vernova during the 2nd quarter worth $2,497,472,000. Finally, Jupiter Topco LLC bought a new stake in shares of GE Vernova during the 2nd quarter worth $2,371,538,000.
GE Vernova Company Profile
GE Vernova Inc (NYSE: GEV) is an energy technology company focused on helping generate, transmit, store and deliver electricity. The company serves utilities, power producers, grid operators, commercial and industrial customers, and other energy-sector participants worldwide.
Its business is organized around three primary areas: Power, Wind and Electrification. Power provides technologies and services for gas and steam power generation, hydropower, nuclear power and other energy systems.
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