GE Vernova (NYSE:GEV) Shares Down 1.7% – Time to Sell?

GE Vernova Inc. (NYSE:GEV) shares traded down 1.7% during mid-day trading on Wednesday . The stock traded as low as $963.76 and last traded at $987.0510. 2,029,939 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 2,756,310 shares. The stock had previously closed at $1,004.53.

Analyst Ratings Changes

Several research analysts have weighed in on GEV shares. Zacks Research lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Morgan Stanley lowered shares of GE Vernova from an “overweight” rating to an “underweight” rating in a research note on Monday, August 3rd. Oppenheimer increased their price target on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Wall Street Zen downgraded GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Barclays boosted their price objective on GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $1,133.15.

GE Vernova Trading Down 0.7%

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 firm’s 50 day simple moving average is $1,042.39 and its two-hundred day simple moving average is $968.21. The stock has a market cap of $255.49 billion, a P/E ratio of 27.46, a price-to-earnings-growth ratio of 3.52 and a beta of 1.21.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $10.79 billion. During the same quarter in the previous year, the business posted $1.86 earnings per share. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. As a group, equities research analysts predict that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

Insider Transactions at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova 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. The trade was a 72.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.21% of the stock is owned by corporate insiders.

Institutional Trading of GE Vernova

A number of institutional investors and hedge funds have recently made changes to their positions in GEV. World Investment Advisors grew its holdings in GE Vernova by 19.9% during the fourth quarter. World Investment Advisors now owns 13,497 shares of the company’s stock valued at $8,821,000 after purchasing an additional 2,241 shares during the period. Riverbend Wealth Management LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at $567,000. Vest Financial LLC grew its holdings in shares of GE Vernova by 56.7% in the 4th quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock valued at $43,260,000 after buying an additional 23,956 shares during the period. RiverFront Investment Group LLC increased its position in shares of GE Vernova by 239.2% in the 4th quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock valued at $1,432,000 after buying an additional 1,545 shares in the last quarter. Finally, Danske Bank A S raised its stake in GE Vernova by 5.5% during the 4th quarter. Danske Bank A S now owns 156,236 shares of the company’s stock worth $102,111,000 after buying an additional 8,086 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.