GE Vernova (NYSE:GEV) Stock Price Down 1.5% – What’s Next?

GE Vernova Inc. (NYSE:GEV) was down 1.5% on Monday. The stock traded as low as $903.92 and last traded at $907.7780. 2,614,232 shares were traded during trading, a decline of 1% from the average session volume of 2,638,938 shares. The stock had previously closed at $921.20.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. TD Cowen increased their price objective on GE Vernova from $1,220.00 to $1,235.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. President Capital raised their price objective on GE Vernova from $1,368.00 to $1,398.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Evercore restated an “outperform” rating and set a $1,350.00 target price on shares of GE Vernova in a report on Thursday, October 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Vernova in a research report on Tuesday, July 21st. Finally, Citigroup reduced their target price on shares of GE Vernova from $1,219.00 to $1,125.00 and set a “neutral” rating on the stock in a research report on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,164.87.

GE Vernova Stock Down 1.5%

The company’s fifty day moving average price is $962.80 and its 200-day moving average price is $1,002.38. The stock has a market capitalization of $241.77 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 3.19 and a beta of 1.14. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.86 earnings per share. Analysts forecast that GE Vernova Inc. will post 15.04 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, October 27th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, October 27th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s payout ratio is presently 5.72%.

Institutional Investors Weigh In On GE Vernova

Hedge funds have recently added to or reduced their stakes in the stock. B. Metzler seel. Sohn & Co. AG raised its holdings in GE Vernova by 37.7% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 23,080 shares of the company’s stock worth $27,116,000 after buying an additional 6,313 shares during the last quarter. Citizens Financial Group Inc. RI purchased a new stake in shares of GE Vernova during the second quarter valued at approximately $8,337,000. Sapient Capital LLC grew its holdings in shares of GE Vernova by 31.4% during the second quarter. Sapient Capital LLC now owns 76,038 shares of the company’s stock valued at $89,372,000 after buying an additional 18,188 shares during the last quarter. Processus Wealth & Capital Management LLC purchased a new stake in shares of GE Vernova during the second quarter valued at approximately $2,699,000. Finally, Field & Main Bank bought a new stake in shares of GE Vernova during the second quarter valued at approximately $3,018,000.

GE Vernova Company Profile

GE Vernova Inc (NYSE: GEV) is an energy technology company focused on helping generate, transmit, store and deliver electricity. The company serves utilities, power producers, grid operators, commercial and industrial customers, and other energy-sector participants worldwide.

Its business is organized around three primary areas: Power, Wind and Electrification. Power provides technologies and services for gas and steam power generation, hydropower, nuclear power and other energy systems.