GE Vernova (NYSE:GEV) Shares Down 1.3% – Should You Sell?

GE Vernova Inc. (NYSE:GEV) dropped 1.3% during trading on Friday . The company traded as low as $474.21 and last traded at $481.47. Approximately 813,495 shares were traded during trading, a decline of 75% from the average daily volume of 3,275,222 shares. The stock had previously closed at $487.67.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of research reports. Bank of America raised their target price on shares of GE Vernova from $520.00 to $550.00 and gave the company a “buy” rating in a research report on Wednesday. Jefferies Financial Group downgraded shares of GE Vernova from a “buy” rating to a “hold” rating and raised their target price for the company from $427.00 to $517.00 in a research report on Thursday, May 29th. Susquehanna reissued a “positive” rating and set a $499.00 target price (up previously from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. BMO Capital Markets raised their target price on shares of GE Vernova from $381.00 to $522.00 and gave the company an “outperform” rating in a research report on Friday, May 30th. Finally, Royal Bank of Canada cut their target price on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Eight investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $404.56.

GE Vernova Trading Down 2.0%

The company has a market cap of $130.44 billion, a PE ratio of 85.96, a P/E/G ratio of 3.03 and a beta of 1.97. The firm’s 50-day simple moving average is $408.13 and its two-hundred day simple moving average is $365.62.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.47) EPS. As a group, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.21%. The ex-dividend date was Thursday, April 17th. GE Vernova’s dividend payout ratio is presently 14.41%.

Institutional Trading of GE Vernova

Several large investors have recently bought and sold shares of GEV. MRP Capital Investments LLC purchased a new stake in GE Vernova during the 4th quarter worth approximately $25,000. Fairway Wealth LLC lifted its stake in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares during the period. Navigoe LLC acquired a new stake in GE Vernova during the 4th quarter valued at approximately $27,000. EQ Wealth Advisors LLC acquired a new stake in GE Vernova during the 1st quarter valued at approximately $27,000. Finally, IMA Advisory Services Inc. acquired a new stake in GE Vernova during the 1st quarter valued at approximately $27,000.

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.