GE Vernova (NYSE:GEV) Trading Down 3.2% – Here’s What Happened

Shares of GE Vernova Inc. (NYSE:GEV) were down 3.2% during trading on Friday . The stock traded as low as $611.14 and last traded at $613.49. Approximately 751,000 shares were traded during trading, a decline of 79% from the average daily volume of 3,507,736 shares. The stock had previously closed at $633.69.

Analyst Upgrades and Downgrades

Several analysts have commented on GEV shares. UBS Group started coverage on shares of GE Vernova in a report on Monday, July 7th. They set a “buy” rating and a $614.00 target price on the stock. TD Cowen raised their target price on shares of GE Vernova from $390.00 to $685.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Wells Fargo & Company raised their target price on shares of GE Vernova from $474.00 to $697.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Bank of America raised their target price on shares of GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Finally, Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Four analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $560.21.

GE Vernova Price Performance

The stock’s 50-day simple moving average is $589.73 and its 200 day simple moving average is $450.37. The stock has a market capitalization of $167.31 billion, a P/E ratio of 148.10, a PEG ratio of 4.24 and a beta of 1.90.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.78 billion. During the same period in the previous year, the business posted $4.65 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 24.10%.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GEV. EQ Wealth Advisors LLC acquired a new position in GE Vernova in the first quarter valued at about $27,000. IMA Advisory Services Inc. bought a new position in GE Vernova in the first quarter valued at about $27,000. Clarity Asset Management Inc. bought a new stake in shares of GE Vernova during the fourth quarter worth about $28,000. WFA Asset Management Corp bought a new stake in shares of GE Vernova during the second quarter worth about $29,000. Finally, Orion Capital Management LLC bought a new stake in shares of GE Vernova during the fourth quarter worth about $30,000.

GE Vernova Company Profile

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.