GE Vernova (NYSE:GEV) Stock Price Down 5% – Should You Sell?

GE Vernova Inc. (NYSE:GEV)’s share price dropped 5% on Thursday . The stock traded as low as $619.75 and last traded at $629.2590. Approximately 4,284,812 shares were traded during mid-day trading, an increase of 47% from the average daily volume of 2,912,172 shares. The stock had previously closed at $662.32.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GEV. Bank of America lifted their price objective on GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Susquehanna increased their price target on shares of GE Vernova from $750.00 to $775.00 and gave the stock a “positive” rating in a research report on Wednesday, December 10th. BMO Capital Markets lifted their price objective on shares of GE Vernova from $710.00 to $780.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. UBS Group increased their target price on shares of GE Vernova from $760.00 to $835.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Finally, Morgan Stanley upped their price objective on GE Vernova from $710.00 to $822.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $689.00.

GE Vernova Trading Down 0.9%

The firm has a market cap of $168.95 billion, a PE ratio of 101.41, a P/E/G ratio of 2.63 and a beta of 1.67. The business has a fifty day moving average price of $620.58 and a 200 day moving average price of $606.45.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.08). The business had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.GE Vernova’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.35) EPS. On average, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, January 5th. This represents a $2.00 annualized dividend and a yield of 0.3%. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio (DPR) is 32.57%.

Institutional Trading of GE Vernova

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jackson Grant Investment Advisers Inc. increased its position in GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the period. Wealth Watch Advisors INC acquired a new position in shares of GE Vernova in the 3rd quarter valued at $25,000. WFA Asset Management Corp purchased a new stake in GE Vernova in the 2nd quarter valued at $29,000. 1248 Management LLC purchased a new stake in GE Vernova in the 1st quarter valued at $31,000. Finally, Howard Hughes Medical Institute acquired a new stake in GE Vernova during the 2nd quarter worth $31,000.

About GE Vernova

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.