GE Vernova (NYSE:GEV) Stock Price Down 1.9% – Here’s Why

GE Vernova Inc. (NYSE:GEV)’s stock price fell 1.9% during mid-day trading on Friday. The company traded as low as $787.31 and last traded at $803.1720. 2,966,672 shares were traded during trading, an increase of 6% from the average session volume of 2,790,990 shares. The stock had previously closed at $818.49.

GE Vernova News Roundup

Here’s some of the latest news about GEV:

• Positive Sentiment: The company reported new validation progress for hydrogen-ready aeroderivative turbines, supporting its push to serve lower-carbon power generation needs. Broader coverage also points to electricity demand, strong orders and a growing backlog as longer-term supports. Hydrogen turbine progress and nuclear project Demand, orders and backlog
• Neutral Sentiment: Although data-center concerns have weighed on power-equipment stocks, one report says only about 20% of GE Vernova’s gas-turbine customers are data centers, suggesting its business is not solely dependent on AI infrastructure spending. Data-center customer exposure
• Negative Sentiment: Recent selling in GE Vernova and other power-related shares has been attributed to backlash and uncertainty around data-center and AI power demand. Separately, GLJ Research assigned the stock a Sell rating, providing a bearish counterpoint to Evercore’s stance. Data-center backlash GLJ Research Sell rating

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GEV shares. Evercore restated an “outperform” rating and set a $1,350.00 price target on shares of GE Vernova in a report on Thursday, October 1st. Glj Research reiterated a “sell” rating and set a $540.00 price objective on shares of GE Vernova in a report on Tuesday, November 10th. Guggenheim cut their price objective on GE Vernova from $1,450.00 to $1,400.00 and set a “buy” rating for the company in a report on Monday, November 2nd. President Capital lifted their price objective on GE Vernova from $1,368.00 to $1,398.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Finally, Morgan Stanley downgraded GE Vernova from an “overweight” rating to an “underweight” rating in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,143.03.

GE Vernova Stock Down 1.9%

The stock has a market cap of $212.58 billion, a price-to-earnings ratio of 21.08, a P/E/G ratio of 2.67 and a beta of 1.25. The business has a fifty day moving average of $913.05 and a 200 day moving average of $948.17. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.62.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, October 28th. The company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. The firm had revenue of $12.64 billion during the quarter, compared to analysts’ expectations of $11.99 billion. GE Vernova had a net margin of 23.54% and a return on equity of 46.50%. The company’s revenue was up 26.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.64 earnings per share. On average, equities analysts predict that GE Vernova Inc. will post 16.13 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, October 27th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, October 27th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 5.25%.

Institutional Investors Weigh In On GE Vernova

Several institutional investors and hedge funds have recently modified their holdings of the business. Parvin Asset Management LLC bought a new position in shares of GE Vernova in the 2nd quarter valued at approximately $32,000. Pingora Partners LLC bought a new stake in GE Vernova during the second quarter worth approximately $36,000. IMG Wealth Management Inc. bought a new stake in GE Vernova during the second quarter worth approximately $39,000. Miller Global Investments LLC boosted its position in GE Vernova by 63.6% during the second quarter. Miller Global Investments LLC now owns 36 shares of the company’s stock worth $42,000 after purchasing an additional 14 shares during the period. Finally, Burk Holdings LLC grew its holdings in GE Vernova by 50.0% during the second quarter. Burk Holdings LLC now owns 36 shares of the company’s stock valued at $42,000 after purchasing an additional 12 shares during the last quarter.

GE Vernova Company Profile

GE Vernova is an energy technology company that designs, manufactures and services equipment used to generate, transmit and distribute electricity. It became an independent public company in April 2024 after separating from General Electric, which had built its energy businesses over more than a century. The company operates through three main businesses: Power, Wind and Electrification. Its offerings include gas and steam turbines, hydropower technologies and related services; onshore and offshore wind turbines; and grid equipment, power-conversion systems and software used to support electricity networks.