GE Vernova (NYSE:GEV) Trading Down 1.2% – What’s Next?

GE Vernova Inc. (NYSE:GEV)’s share price was down 1.2% during trading on Wednesday . The stock traded as low as $637.20 and last traded at $644.5430. Approximately 2,393,928 shares traded hands during trading, a decline of 12% from the average daily volume of 2,730,901 shares. The stock had previously closed at $652.09.

Analyst Ratings Changes

GEV has been the subject of several research reports. Robert W. Baird reiterated a “neutral” rating and issued a $649.00 price target (down from $816.00) on shares of GE Vernova in a research note on Friday, January 9th. Seaport Res Ptn cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GE Vernova in a research note on Wednesday, October 8th. BMO Capital Markets boosted their price target on GE Vernova from $710.00 to $780.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 10th. Finally, Jefferies Financial Group set a $830.00 price target on GE Vernova in a research note on Monday, December 22nd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $703.04.

GE Vernova Price Performance

The company has a market cap of $174.88 billion, a P/E ratio of 104.97, a P/E/G ratio of 2.68 and a beta of 1.67. The company’s 50-day moving average is $623.81 and its two-hundred day moving average is $609.71.

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

GE Vernova Increases Dividend

The firm 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. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, January 5th. GE Vernova’s payout ratio is 32.57%.

Hedge Funds Weigh In On GE Vernova

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of GE Vernova during the second quarter valued at approximately $1,809,220,000. Capital World Investors raised its stake in GE Vernova by 1,907.5% during 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 last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of GE Vernova by 273.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock valued at $798,126,000 after buying an additional 1,104,747 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of GE Vernova by 10,044.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock worth $445,773,000 after buying an additional 834,129 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of GE Vernova by 170.0% in the third quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company’s stock worth $722,956,000 after acquiring an additional 740,339 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.