GE Vernova (NYSE:GEV) Shares Down 5.4% – Time to Sell?

GE Vernova Inc. (NYSE:GEV) shares traded down 5.4% during trading on Tuesday . The stock traded as low as $913.51 and last traded at $942.7260. 3,881,258 shares were traded during mid-day trading, an increase of 37% from the average session volume of 2,823,448 shares. The stock had previously closed at $996.57.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GEV. Susquehanna set a $1,300.00 target price on GE Vernova in a report on Thursday, April 23rd. Weiss Ratings restated a “buy (b)” rating on shares of GE Vernova in a research note on Tuesday, July 21st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,328.00 price target on shares of GE Vernova in a research report on Friday, April 24th. BMO Capital Markets raised their price objective on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Finally, Argus set a $1,300.00 target price on shares of GE Vernova in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,133.15.

GE Vernova Trading Down 5.4%

The company has a market capitalization of $251.08 billion, a P/E ratio of 26.98, a PEG ratio of 3.72 and a beta of 1.09. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. The stock has a fifty day moving average of $1,034.12 and a 200 day moving average of $925.93.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.86 EPS. As a group, equities research analysts anticipate that GE Vernova Inc. will post 15.16 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is 5.72%.

Insider Activity at GE Vernova

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

Institutional Trading of GE Vernova

Institutional investors and hedge funds have recently modified their holdings of the company. Cornerstone Financial Management LLC bought a new stake in GE Vernova during the fourth quarter valued at about $25,000. Wealth Watch Advisors INC bought a new position in shares of GE Vernova in the third quarter worth about $25,000. Torren Management LLC bought a new position in shares of GE Vernova in the fourth quarter worth about $26,000. Manning & Napier Advisors LLC grew its position in shares of GE Vernova by 68.4% during the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after purchasing an additional 13 shares in the last quarter. Finally, ORG Wealth Partners LLC grew its position in shares of GE Vernova by 241.7% during the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after purchasing an additional 29 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.