GE Vernova (NYSE:GEV) Trading Down 1.6% – Time to Sell?

Shares of GE Vernova Inc. (NYSE:GEV) dropped 1.6% during trading on Monday . The stock traded as low as $607.40 and last traded at $621.2710. Approximately 2,471,326 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 3,366,433 shares. The stock had previously closed at $631.32.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GEV shares. BMO Capital Markets increased their price objective on shares of GE Vernova from $710.00 to $780.00 and gave the stock an “outperform” rating in a research report on Wednesday. Cowen restated a “buy” rating on shares of GE Vernova in a research report on Thursday, October 23rd. Redburn Partners set a $475.00 price objective on GE Vernova in a report on Wednesday, October 15th. Weiss Ratings reissued a “hold (c)” rating on shares of GE Vernova in a research note on Wednesday, October 8th. Finally, Susquehanna lifted their target price on GE Vernova from $750.00 to $775.00 and gave the company a “positive” rating in a research report on Wednesday. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $644.74.

GE Vernova Stock Up 15.6%

The stock has a market capitalization of $196.04 billion, a PE ratio of 117.68, a price-to-earnings-growth ratio of 4.65 and a beta of 1.71. The stock has a fifty day moving average of $593.56 and a 200-day moving average of $579.74.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The company had revenue of $9.97 billion during 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%. GE Vernova’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.35) EPS. Equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.3%. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, January 5th. GE Vernova’s dividend payout ratio is 16.29%.

Institutional Investors Weigh In On GE Vernova

A number of large investors have recently modified their holdings of GEV. Allworth Financial LP raised its holdings in shares of GE Vernova by 21.2% in the 3rd quarter. Allworth Financial LP now owns 8,425 shares of the company’s stock valued at $5,181,000 after purchasing an additional 1,476 shares in the last quarter. CMC Financial Group purchased a new position in GE Vernova in the third quarter valued at $311,000. Groupama Asset Managment increased its holdings in GE Vernova by 9.6% in the third quarter. Groupama Asset Managment now owns 119,019 shares of the company’s stock valued at $73,185,000 after buying an additional 10,392 shares during the last quarter. Cambria Investment Management L.P. acquired a new stake in GE Vernova in the third quarter valued at $211,000. Finally, Strategic Advocates LLC purchased a new stake in GE Vernova during the 3rd quarter worth about $52,000.

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.