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

GE Vernova Inc. (NYSE:GEV) fell 3.5% on Wednesday . The stock traded as low as $661.30 and last traded at $662.3820. 2,588,673 shares traded hands during trading, an increase of 1% from the average session volume of 2,566,289 shares. The stock had previously closed at $686.33.

Wall Street Analyst Weigh In

A number of brokerages have commented on GEV. Bank of America upped their price objective on shares of GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Citigroup dropped their price target on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Royal Bank Of Canada restated an “outperform” rating and issued a $761.00 price objective on shares of GE Vernova in a research report on Monday, December 22nd. Jefferies Financial Group set a $830.00 price objective on GE Vernova in a report on Monday, December 22nd. Finally, Cowen reissued a “buy” rating on shares of GE Vernova in a research note on Thursday, October 23rd. Four 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 given a Sell rating to the company’s stock. According to data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $695.19.

GE Vernova Trading Down 3.5%

The stock has a market capitalization of $179.72 billion, a PE ratio of 107.88, a P/E/G ratio of 2.85 and a beta of 1.67. The firm has a 50 day moving average of $617.04 and a two-hundred day moving average of $605.03.

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

GE Vernova Increases Dividend

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

Hedge Funds Weigh In On GE Vernova

Several hedge funds have recently bought and sold shares of GEV. Jackson Grant Investment Advisers Inc. boosted its stake in shares of GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares during the last quarter. Wealth Watch Advisors INC purchased a new position in GE Vernova in the 3rd quarter valued at about $25,000. WFA Asset Management Corp acquired a new stake in shares of GE Vernova during the 2nd quarter worth about $29,000. 1248 Management LLC purchased a new stake in shares of GE Vernova during the first quarter worth about $31,000. Finally, Howard Hughes Medical Institute purchased a new stake in shares of GE Vernova during the second quarter worth about $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.