GE Vernova (NYSE:GEV) Shares Down 1.4% – What’s Next?

GE Vernova Inc. (NYSE:GEV)’s stock price traded down 1.4% during trading on Tuesday . The stock traded as low as $787.00 and last traded at $790.62. 2,394,531 shares were traded during trading, a decline of 29% from the average session volume of 3,373,123 shares. The stock had previously closed at $801.54.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $930.00 target price on shares of GE Vernova in a report on Thursday, January 29th. Weiss Ratings raised GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday. Citigroup lifted their price target on GE Vernova from $708.00 to $779.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Finally, Rothschild & Co Redburn set a $475.00 target price on shares of GE Vernova in a report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $788.24.

GE Vernova Stock Down 1.4%

The company has a market cap of $213.10 billion, a PE ratio of 44.42, a PEG ratio of 3.10 and a beta of 1.67. The company’s fifty day moving average is $674.49 and its 200-day moving average is $630.80.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating the consensus estimate of $2.99 by $10.40. The firm had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 EPS. Equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, January 5th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 annualized dividend and a yield of 0.3%. GE Vernova’s payout ratio is 11.24%.

Hedge Funds Weigh In On GE Vernova

Institutional investors and hedge funds have recently made changes to their positions in the business. Torren Management LLC bought a new stake in shares of GE Vernova during the 4th quarter valued at $26,000. Jackson Grant Investment Advisers Inc. grew its holdings in 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 purchasing an additional 31 shares during the period. Wealth Watch Advisors INC purchased a new stake in GE Vernova in the third quarter worth about $25,000. ORG Wealth Partners LLC raised its stake in shares of GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after buying an additional 29 shares during the period. Finally, Navalign LLC purchased a new position in shares of GE Vernova during the 4th quarter valued at about $27,000.

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.