GE Vernova (NYSE:GEV) Stock Price Down 3.1% – Should You Sell?

GE Vernova Inc. (NYSE:GEV)’s stock price traded down 3.1% during trading on Wednesday. The stock traded as low as $980.47 and last traded at $997.7940. 1,804,353 shares traded hands during trading, a decline of 32% from the average daily volume of 2,649,627 shares. The stock had previously closed at $1,029.21.

Analyst Ratings Changes

GEV has been the topic of a number of research reports. Weiss Ratings restated a “buy (b)” rating on shares of GE Vernova in a report on Tuesday, July 21st. William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Monday, August 3rd. Evercore restated an “outperform” rating and issued a $1,350.00 price target on shares of GE Vernova in a report on Thursday, October 1st. Glj Research initiated coverage on shares of GE Vernova in a research report on Monday, September 14th. They set a “sell” rating and a $470.00 price target on the stock. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $1,298.00 price objective (up from $1,206.00) on shares of GE Vernova in a research note on Tuesday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $1,171.87.

GE Vernova Price Performance

The company has a market cap of $265.74 billion, a price-to-earnings ratio of 28.56, a P/E/G ratio of 3.35 and a beta of 1.14. The company’s 50-day simple moving average is $965.26 and its 200-day simple moving average is $996.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62.

GE Vernova (NYSE:GEV) last announced its 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). The firm had revenue of $11.10 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 21.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.86 earnings per share. On average, equities research analysts anticipate that GE Vernova Inc. will post 15.38 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, October 27th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, October 27th. GE Vernova’s payout ratio is presently 5.72%.

Hedge Funds Weigh In On GE Vernova

Institutional investors and hedge funds have recently made changes to their positions in the business. North Point Portfolio Managers Corp OH acquired a new stake in shares of GE Vernova during the third quarter worth approximately $68,000. American National Bank & Trust raised its holdings in GE Vernova by 4.6% in the third quarter. American National Bank & Trust now owns 343 shares of the company’s stock valued at $326,000 after acquiring an additional 15 shares in the last quarter. Worth Asset Management LLC boosted its stake in GE Vernova by 27.7% during the 3rd quarter. Worth Asset Management LLC now owns 1,126 shares of the company’s stock valued at $1,070,000 after acquiring an additional 244 shares during the last quarter. Nautilus Advisors LLC boosted its stake in GE Vernova by 6.3% during the 3rd quarter. Nautilus Advisors LLC now owns 235 shares of the company’s stock valued at $224,000 after acquiring an additional 14 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in GE Vernova during the 3rd quarter worth $295,000.

About GE Vernova

GE Vernova Inc (NYSE: GEV) is an energy technology company formed through the separation of General Electric’s energy businesses in April 2024. The company is focused on helping generate, transmit, distribute and store electricity as power systems adapt to rising demand and the transition toward lower-carbon energy sources.

GE Vernova operates across three principal business areas: Power, Wind and Electrification. Its products and services include gas and steam power generation equipment, nuclear and hydropower technologies, onshore and offshore wind turbines, wind services, grid equipment, electrification systems, energy storage solutions and software used to monitor and manage energy infrastructure.

The company serves utilities, independent power producers, industrial customers and other energy-sector organizations in markets around the world.