GE Vernova (NYSE:GEV) Stock Price Down 6.1% – Should You Sell?

GE Vernova Inc. (NYSE:GEV) shares were down 6.1% during mid-day trading on Thursday . The company traded as low as $557.69 and last traded at $558.94. Approximately 4,835,436 shares changed hands during trading, an increase of 42% from the average daily volume of 3,399,235 shares. The stock had previously closed at $595.37.

Analysts Set New Price Targets

Several research firms have recently weighed in on GEV. Glj Research lifted their price objective on shares of GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada lifted their price target on shares of GE Vernova from $605.00 to $630.00 and gave the company a “sector perform” rating in a research note on Thursday, October 23rd. Cowen reiterated a “buy” rating on shares of GE Vernova in a report on Thursday, October 23rd. Barclays increased their price objective on shares of GE Vernova from $706.00 to $710.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Finally, Citigroup decreased their target price on GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $607.81.

GE Vernova Stock Down 6.1%

The company has a market cap of $151.65 billion, a P/E ratio of 91.03, a price-to-earnings-growth ratio of 4.13 and a beta of 1.68. The firm’s 50-day moving average price is $598.44 and its 200-day moving average price is $561.28.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, October 20th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is currently 16.29%.

Insiders Place Their Bets

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the transaction, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.15% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GE Vernova

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jackson Grant Investment Advisers Inc. increased its holdings in shares of GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares in the last quarter. Wealth Watch Advisors INC purchased a new stake in GE Vernova during the 3rd quarter valued at about $25,000. Bay Harbor Wealth Management LLC increased its stake in GE Vernova by 537.5% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares in the last quarter. Elevation Wealth Partners LLC raised its holdings in GE Vernova by 47.2% in the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after buying an additional 17 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators lifted its stake in shares of GE Vernova by 112.0% in the third quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock worth $33,000 after buying an additional 28 shares in the last quarter.

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.