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

GE Vernova Inc. (NYSE:GEV) fell 1.5% during mid-day trading on Tuesday . The company traded as low as $878.00 and last traded at $919.5860. 3,826,792 shares changed hands during trading, an increase of 41% from the average session volume of 2,705,002 shares. The stock had previously closed at $933.85.

Analysts Set New Price Targets

A number of brokerages have issued reports on GEV. Argus set a $1,300.00 price target on GE Vernova in a research note on Monday, April 27th. TD Cowen increased their price objective on GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Oppenheimer set a $1,303.00 price objective on GE Vernova in a research report on Thursday, April 23rd. BNP Paribas Exane downgraded GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective for the company. in a research report on Monday, April 27th. Finally, BMO Capital Markets increased their price objective on GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,090.76.

GE Vernova Price Performance

The stock has a fifty day moving average price of $1,004.98 and a 200-day moving average price of $824.07. The company has a market cap of $247.11 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 3.46 and a beta of 1.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $15.49. The company had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 earnings per share. On average, equities analysts expect that GE Vernova Inc. will post 14.99 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova’s dividend payout ratio (DPR) is currently 5.83%.

Insider Buying and Selling at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the sale, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the sale, the chief accounting officer owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by company insiders.

Institutional Trading of GE Vernova

Hedge funds and other institutional investors have recently modified their holdings of the company. Brighton Jones LLC raised its holdings in GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after buying an additional 753 shares in the last quarter. Schnieders Capital Management LLC. raised 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 buying an additional 26 shares in the last quarter. Jump Financial LLC bought a new position in GE Vernova during the second quarter valued at about $258,000. Ossiam bought a new position in shares of GE Vernova in the second quarter worth about $42,000. Finally, Nebula Research & Development LLC increased 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 purchasing an additional 323 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.