GE Vernova (NYSE:GEV) Stock Price Down 6% – Should You Sell?

GE Vernova Inc. (NYSE:GEV)’s stock price was down 6% during mid-day trading on Tuesday . The stock traded as low as $1,028.00 and last traded at $1,082.9990. Approximately 4,188,455 shares traded hands during mid-day trading, an increase of 49% from the average session volume of 2,808,981 shares. The stock had previously closed at $1,152.04.

Analyst Ratings Changes

GEV has been the subject of a number of research analyst reports. TD Cowen lifted their target price on shares of GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Sanford C. Bernstein began coverage on shares of GE Vernova in a research report on Tuesday, June 16th. They issued an “outperform” rating and a $1,206.00 price objective for the company. Wells Fargo & Company raised their price target on shares of GE Vernova from $831.00 to $896.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Jefferies Financial Group lowered their target price on GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating for the company in a research note on Thursday, June 11th. Finally, Guggenheim upped their target price on shares of GE Vernova from $910.00 to $1,300.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $1,089.88.

GE Vernova Price Performance

The company has a market cap of $290.69 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 3.98 and a beta of 1.09. The company’s fifty day moving average price is $1,039.86 and its two-hundred day moving average price is $891.01. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping the consensus estimate of $1.95 by $15.49. The company had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.GE Vernova’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share. On average, equities research analysts forecast that GE Vernova Inc. will post 15.05 EPS for the current fiscal year.

GE Vernova Announces Dividend

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

Insiders Place Their Bets

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the firm’s 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 owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This trade represents a 72.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction 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 position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On GE Vernova

Institutional investors and hedge funds have recently made changes to their positions in the company. Auto Owners Insurance Co increased its holdings in shares of GE Vernova by 110,973.4% during the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after purchasing an additional 34,826,773 shares during the period. Vanguard Group Inc. grew its position in GE Vernova by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock valued at $16,354,691,000 after acquiring an additional 208,162 shares during the last quarter. State Street Corp raised its stake in GE Vernova by 2.1% during the fourth quarter. State Street Corp now owns 11,469,670 shares of the company’s stock worth $7,496,232,000 after acquiring an additional 231,392 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of GE Vernova by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock valued at $4,074,039,000 after purchasing an additional 68,894 shares during the last quarter. Finally, Morgan Stanley increased its position in GE Vernova by 12.8% during the 4th quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock worth $3,957,024,000 after purchasing an additional 685,466 shares in the last quarter.

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.