GE Vernova (NYSE:GEV) Shares Down 2.9% – Should You Sell?

Shares of GE Vernova Inc. (NYSE:GEV) dropped 2.9% during mid-day trading on Friday . The stock traded as low as $921.46 and last traded at $935.2620. Approximately 2,954,509 shares were traded during trading, an increase of 9% from the average daily volume of 2,701,912 shares. The stock had previously closed at $963.33.

Analyst Ratings Changes

GEV has been the subject of a number of research reports. Oppenheimer set a $1,303.00 price objective on shares of GE Vernova in a report on Thursday, April 23rd. Jefferies Financial Group raised their price target on shares of GE Vernova from $965.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Morgan Stanley lifted their price target on shares of GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,328.00 price objective on shares of GE Vernova in a research report on Friday, April 24th. Finally, Barclays increased their price objective on shares of GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,090.76.

GE Vernova Price Performance

The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $251.32 billion, a P/E ratio of 27.24, a PEG ratio of 3.59 and a beta of 1.23. The business has a 50 day simple moving average of $1,003.51 and a 200-day simple moving average of $818.87.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The company’s quarterly revenue was up 17.0% on a year-over-year basis. Analysts predict that GE Vernova Inc. will post 14.84 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be given a $0.50 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is 5.83%.

Insider Activity at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the 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 of the company’s stock, valued at $1,739,726.80. This represents a 72.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the sale, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Auto Owners Insurance Co grew its position in GE Vernova by 110,973.4% in the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after buying an additional 34,826,773 shares in the last quarter. Norges Bank bought a new stake in shares of GE Vernova during the 4th quarter worth about $2,283,114,000. Northwestern Mutual Wealth Management Co. raised its position in shares of GE Vernova by 5,171.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock worth $1,603,114,000 after buying an additional 2,406,326 shares in the last quarter. Capital World Investors raised its position in shares of GE Vernova by 1,907.5% during the 3rd quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock worth $1,325,842,000 after buying an additional 2,048,792 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its stake in shares of GE Vernova by 2,802.8% in the 4th quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company’s stock worth $1,051,407,000 after acquiring an additional 1,553,295 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.