GE Vernova (NYSE:GEV) Trading Down 2.2% – Time to Sell?

Shares of GE Vernova Inc. (NYSE:GEV) traded down 2.2% during mid-day trading on Thursday . The company traded as low as $942.36 and last traded at $965.58. Approximately 2,634,536 shares traded hands during trading, a decline of 4% from the average session volume of 2,755,703 shares. The stock had previously closed at $987.46.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GEV shares. Jefferies Financial Group restated a “buy” rating on shares of GE Vernova in a report on Monday, July 27th. BMO Capital Markets reissued an “outperform” rating on shares of GE Vernova in a research report on Friday, August 7th. Zacks Research cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. JPMorgan Chase & Co. upped their price target on GE Vernova from $1,302.00 to $1,330.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Barclays raised their price target on shares of GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $1,133.15.

GE Vernova Stock Down 2.2%

The firm’s 50-day simple moving average is $1,041.16 and its 200 day simple moving average is $966.52. 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 market capitalization of $257.16 billion, a P/E ratio of 27.64, a PEG ratio of 3.58 and a beta of 1.21.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data 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). The company had revenue of $11.10 billion during 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%. GE Vernova’s revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.86 EPS. As a group, research analysts expect that GE Vernova Inc. will post 15.57 EPS for the current year.

Insider Buying and Selling

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the firm’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 value of $4,568,797.52. Following the completion of the transaction, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On GE Vernova

A number of institutional investors and hedge funds have recently made changes to their positions in GEV. Brighton Jones LLC raised its position in GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after acquiring an additional 753 shares in the last quarter. Schnieders Capital Management LLC. grew its position in shares of GE Vernova by 1.7% in the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after acquiring an additional 26 shares during the period. Jump Financial LLC bought a new position in shares of GE Vernova in the 2nd quarter valued at about $258,000. Ossiam acquired a new position in shares of GE Vernova during the 2nd quarter worth about $42,000. Finally, Nebula Research & Development LLC increased its stake in shares of GE Vernova by 23.9% during the 2nd 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 last quarter.

GE Vernova Company Profile

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.