GE Vernova (NYSE:GEV) Shares Down 2.4% – Should You Sell?

GE Vernova Inc. (NYSE:GEV) shares were down 2.4% during trading on Tuesday . The company traded as low as $298.00 and last traded at $308.29. Approximately 2,118,920 shares traded hands during trading, a decline of 44% from the average daily volume of 3,751,023 shares. The stock had previously closed at $315.91.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Guggenheim lowered shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a research report on Friday, January 24th. Morgan Stanley upped their target price on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group raised their price target on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Citigroup boosted their price objective on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $453.00 target price on shares of GE Vernova in a research note on Tuesday, January 28th. 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $350.13.

GE Vernova Stock Down 0.5 %

The firm’s 50-day moving average price is $363.97 and its two-hundred day moving average price is $302.17. The firm has a market capitalization of $86.72 billion and a PE ratio of 56.46.

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

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a dividend of $0.25 per share. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.32%. GE Vernova’s payout ratio is presently 17.99%.

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

Institutional Trading of GE Vernova

Several institutional investors have recently made changes to their positions in GEV. Howard Capital Management Group LLC acquired a new stake in shares of GE Vernova during the 3rd quarter valued at about $213,000. GHP Investment Advisors Inc. lifted its stake in GE Vernova by 19.3% in the third quarter. GHP Investment Advisors Inc. now owns 401 shares of the company’s stock valued at $102,000 after acquiring an additional 65 shares during the last quarter. Modera Wealth Management LLC lifted its stake in GE Vernova by 7.1% in the third quarter. Modera Wealth Management LLC now owns 2,862 shares of the company’s stock valued at $730,000 after acquiring an additional 189 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in GE Vernova by 15.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 151,508 shares of the company’s stock worth $37,531,000 after acquiring an additional 19,840 shares in the last quarter. Finally, Frank Rimerman Advisors LLC raised its holdings in shares of GE Vernova by 4.0% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 4,062 shares of the company’s stock valued at $1,036,000 after purchasing an additional 158 shares in the last quarter.

GE Vernova Company Profile

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.