GE Vernova (NYSE:GEV) Stock Price Down 3.6% – Should You Sell?

GE Vernova Inc. (NYSE:GEV)’s stock price fell 3.6% on Wednesday . The stock traded as low as $1,017.33 and last traded at $1,031.6070. 2,261,456 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 2,686,468 shares. The stock had previously closed at $1,070.47.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GEV. Zacks Research downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. BNP Paribas Exane downgraded shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 target price on the stock. in a report on Monday, April 27th. TD Cowen lifted their target price on shares of GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Mizuho set a $714.00 target price on shares of GE Vernova in a report on Tuesday, February 3rd. Finally, Argus set a $1,300.00 target price on shares of GE Vernova in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $1,090.76.

GE Vernova Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The company’s 50 day moving average is $987.58 and its 200 day moving average is $798.82. The stock has a market cap of $277.21 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 3.89 and a beta of 1.51.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating 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 firm had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter last year, the business earned $0.91 earnings per share. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. Research analysts forecast that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm 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 dividend of $0.50 per share. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s payout ratio is presently 5.83%.

Insider Transactions at GE Vernova

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the transaction, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On GE Vernova

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allen Capital Group LLC raised its position in GE Vernova by 20.4% during the first quarter. Allen Capital Group LLC now owns 655 shares of the company’s stock worth $572,000 after acquiring an additional 111 shares during the last quarter. Security Financial Services INC. raised its position in GE Vernova by 1.7% during the first quarter. Security Financial Services INC. now owns 736 shares of the company’s stock worth $642,000 after acquiring an additional 12 shares during the last quarter. Glenmede Trust Co. NA raised its position in GE Vernova by 2.6% during the first quarter. Glenmede Trust Co. NA now owns 13,508 shares of the company’s stock worth $11,791,000 after acquiring an additional 348 shares during the last quarter. Axiom Investment Management LLC acquired a new position in GE Vernova during the first quarter worth about $869,000. Finally, Groupama Asset Managment raised its position in GE Vernova by 2.0% during the first quarter. Groupama Asset Managment now owns 119,648 shares of the company’s stock worth $104,441,000 after acquiring an additional 2,340 shares during 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.