GE Vernova (NYSE:GEV) Trading Down 4.6% – Here’s Why

GE Vernova Inc. (NYSE:GEV) shares fell 4.6% during mid-day trading on Wednesday . The stock traded as low as $897.68 and last traded at $900.0280. 3,649,525 shares changed hands during mid-day trading, an increase of 29% from the average daily volume of 2,831,682 shares. The stock had previously closed at $943.38.

Analyst Ratings Changes

GEV has been the subject of a number of recent research reports. Susquehanna set a $1,300.00 target price on shares of GE Vernova in a report on Thursday, April 23rd. Sanford C. Bernstein lifted their price objective on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Vernova in a research note on Tuesday, July 21st. Guggenheim increased their target price on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $1,328.00 target price on shares of GE Vernova in a research report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $1,133.15.

GE Vernova Stock Performance

The business has a 50 day simple moving average of $1,029.03 and a 200 day simple moving average of $932.36. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $263.13 billion, a PE ratio of 28.57, a PEG ratio of 3.24 and a beta of 1.09.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The business had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. During the same period in the prior year, the business posted $1.86 EPS. GE Vernova’s revenue was up 21.9% compared to the same quarter last year. Equities research analysts predict that GE Vernova Inc. will post 15.46 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

Insider Buying and Selling

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the transaction, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief accounting officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On GE Vernova

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cornerstone Financial Management LLC acquired a new stake in GE Vernova during the 4th quarter worth about $25,000. Wealth Watch Advisors INC purchased a new position in shares of GE Vernova in the third quarter worth about $25,000. Torren Management LLC purchased a new position in shares of GE Vernova in the fourth quarter worth about $26,000. Manning & Napier Advisors LLC lifted its holdings 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 during the period. Finally, Navalign LLC acquired a new stake in shares of GE Vernova during the fourth quarter worth 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.