GE Vernova (NYSE:GEV) Stock Price Down 3.7% – What’s Next?

GE Vernova Inc. (NYSE:GEV)’s share price traded down 3.7% on Friday . The stock traded as low as $1,042.00 and last traded at $1,045.7410. 3,614,950 shares changed hands during trading, an increase of 29% from the average session volume of 2,799,080 shares. The stock had previously closed at $1,085.47.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GEV shares. Sanford C. Bernstein initiated coverage on shares of GE Vernova in a research report on Tuesday, June 16th. They issued an “outperform” rating and a $1,206.00 price target for the company. BNP Paribas Exane lowered GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective on the stock. in a research note on Monday, April 27th. TD Cowen increased their target price on GE Vernova from $780.00 to $1,220.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Zacks Research downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Erste Group Bank raised GE Vernova to a “strong-buy” rating in a research note on Tuesday, March 24th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,089.88.

GE Vernova Stock Down 3.7%

The firm has a market cap of $281.01 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 3.92 and a beta of 1.23. The business’s 50-day moving average is $1,029.97 and its 200-day moving average is $862.69. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $15.49. The firm had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. On average, equities analysts predict that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the sale, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This trade represents a 72.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction 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 transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cornerstone Financial Management LLC bought a new position in shares of GE Vernova in the fourth quarter worth about $25,000. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova during the third quarter valued at approximately $25,000. Torren Management LLC bought a new stake in shares of GE Vernova during the fourth quarter valued at approximately $26,000. Manning & Napier Advisors LLC increased its holdings in shares of GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after purchasing an additional 13 shares in the last quarter. Finally, ORG Wealth Partners LLC increased its holdings in shares of GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after purchasing an additional 29 shares in the last quarter.

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.