GE Vernova (NYSE:GEV) Stock Price Down 3.2% – Time to Sell?

GE Vernova Inc. (NYSE:GEV) shares were down 3.2% during mid-day trading on Thursday . The company traded as low as $361.90 and last traded at $363.12. Approximately 937,793 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 3,544,988 shares. The stock had previously closed at $375.20.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Morgan Stanley boosted their target price on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. TD Cowen assumed coverage on GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target on the stock. Finally, Guggenheim lowered GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a report on Friday, January 24th. Eight investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $350.13.

GE Vernova Price Performance

The stock has a market cap of $90.41 billion and a price-to-earnings ratio of 58.93. The business has a fifty day moving average of $364.41 and a 200 day moving average of $299.31.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The business’s quarterly revenue was up 5.1% on a year-over-year basis. On average, analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.31%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

GE Vernova declared that its Board of Directors has authorized a share buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On GE Vernova

A number of large investors have recently added to or reduced their stakes in the stock. MRP Capital Investments LLC acquired a new position in GE Vernova in the 4th quarter valued at $25,000. Cedar Mountain Advisors LLC boosted its holdings in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after acquiring an additional 39 shares during the period. Fairway Wealth LLC grew its position in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Pineridge Advisors LLC increased its stake in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after purchasing an additional 69 shares during the period. Finally, Navigoe LLC acquired a new position in shares of GE Vernova during the 4th quarter worth about $27,000.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.