GE Vernova (NYSE:GEV) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of GE Vernova (NYSE:GEV) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

GEV has been the subject of a number of other reports. Guggenheim increased their price target on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the stock a “buy” rating in a research report on Thursday. Zacks Research downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Oppenheimer upped their price objective on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the company an “outperform” rating in a research note on Thursday. Wells Fargo & Company increased their target price on shares of GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. Finally, Jefferies Financial Group cut their target price on shares of GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating for the company in a research report on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,133.15.

GE Vernova Stock Performance

Shares of GEV stock opened at $997.11 on Friday. GE Vernova has a 1-year low of $530.16 and a 1-year high of $1,195.94. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $265.56 billion, a price-to-earnings ratio of 28.54, a P/E/G ratio of 3.72 and a beta of 1.09. The stock’s fifty day simple moving average is $1,034.12 and its 200-day simple moving average is $925.93.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The business had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.79 billion. During the same period in the prior year, the company posted $1.86 earnings per share. The firm’s revenue was up 21.9% on a year-over-year basis. On average, sell-side analysts predict that GE Vernova will post 15.16 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 16th. GE Vernova’s payout ratio is currently 5.72%.

Insider Buying and Selling at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the transaction, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction on Thursday, May 14th. The shares were 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 of the company’s stock, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

Institutional Trading of GE Vernova

A number of institutional investors and hedge funds have recently made changes to their positions in GEV. Brighton Jones LLC lifted its holdings in GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after purchasing an additional 753 shares during the last quarter. Schnieders Capital Management LLC. grew its holdings in GE Vernova by 1.7% during the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after purchasing an additional 26 shares during the last quarter. Jump Financial LLC bought a new position in shares of GE Vernova in the second quarter valued at approximately $258,000. Ossiam bought a new position in shares of GE Vernova in the second quarter valued at approximately $42,000. Finally, Nebula Research & Development LLC lifted its stake in shares of GE Vernova by 23.9% in the second quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock worth $886,000 after buying an additional 323 shares during the last quarter.

GE Vernova Company Profile

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.