GE Vernova (NYSE:GEV) Stock Price Down 3.5% – Should You Sell?

GE Vernova Inc. (NYSE:GEV) shares fell 3.5% during trading on Thursday . The company traded as low as $990.46 and last traded at $996.00. 3,000,211 shares changed hands during mid-day trading, an increase of 12% from the average session volume of 2,689,092 shares. The stock had previously closed at $1,031.89.

Analysts Set New Price Targets

Several research analysts recently issued reports on GEV shares. Oppenheimer set a $1,303.00 target price on GE Vernova in a research report on Thursday, April 23rd. Wells Fargo & Company raised their target price on GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. BNP Paribas Exane lowered GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 target price for the company. in a research report on Monday, April 27th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,328.00 target price on shares of GE Vernova in a research report on Friday, April 24th. Finally, Barclays raised their target price on GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,090.76.

GE Vernova Stock Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The stock has a fifty day simple moving average of $991.69 and a two-hundred day simple moving average of $802.21. The stock has a market capitalization of $267.65 billion, a price-to-earnings ratio of 29.01, a P/E/G ratio of 4.01 and a beta of 1.51.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period last year, the business posted $0.91 EPS. The business’s revenue was up 17.0% compared to the same quarter last year. Analysts forecast that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova’s dividend payout ratio (DPR) is presently 5.83%.

Insiders Place Their Bets

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.21% of the company’s stock.

Institutional Trading of GE Vernova

Several large investors have recently made changes to their positions in GEV. Auto Owners Insurance Co grew its stake in shares of GE Vernova by 110,973.4% in the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after buying an additional 34,826,773 shares during the period. Norges Bank acquired a new stake in shares of GE Vernova in the 4th quarter valued at about $2,283,114,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of GE Vernova by 5,171.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock valued at $1,603,114,000 after buying an additional 2,406,326 shares during the period. Capital World Investors grew its stake in shares of GE Vernova by 1,907.5% in the 3rd quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock valued at $1,325,842,000 after buying an additional 2,048,792 shares during the period. Finally, Corient Private Wealth LLC grew its stake in shares of GE Vernova by 2,802.8% in the 4th quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company’s stock valued at $1,051,407,000 after buying an additional 1,553,295 shares during the period.

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.