GE Vernova (NYSE:GEV) Shares Down 1.5% – Here’s Why

GE Vernova Inc. (NYSE:GEV)’s share price traded down 1.5% during mid-day trading on Tuesday . The stock traded as low as $553.25 and last traded at $571.8470. 2,333,510 shares traded hands during trading, a decline of 31% from the average session volume of 3,398,330 shares. The stock had previously closed at $580.49.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GEV shares. Jefferies Financial Group reissued a “hold” rating and issued a $654.00 price objective on shares of GE Vernova in a research note on Monday, October 27th. Royal Bank Of Canada increased their price target on GE Vernova from $605.00 to $630.00 and gave the company a “sector perform” rating in a research note on Thursday, October 23rd. Melius Research set a $740.00 price objective on GE Vernova and gave the company a “buy” rating in a report on Monday, September 15th. Citigroup lowered their target price on GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. Finally, Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $607.81.

GE Vernova Stock Performance

The stock has a market capitalization of $155.15 billion, a price-to-earnings ratio of 93.13, a P/E/G ratio of 4.13 and a beta of 1.69. The stock has a fifty day simple moving average of $594.55 and a two-hundred day simple moving average of $565.87.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same period in the prior year, the business earned ($0.35) EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, October 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Monday, October 20th. GE Vernova’s payout ratio is presently 16.29%.

Institutional Investors Weigh In On GE Vernova

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd purchased a new position in GE Vernova in the first quarter worth $912,000. Pines Wealth Management LLC bought a new stake in shares of GE Vernova during the 2nd quarter worth $408,000. Resona Asset Management Co. Ltd. boosted its holdings in shares of GE Vernova by 8.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock worth $26,229,000 after buying an additional 6,551 shares during the last quarter. Dupree Financial Group LLC bought a new position in GE Vernova during the second quarter valued at about $253,000. Finally, Lockheed Martin Investment Management Co. bought a new position in GE Vernova during the first quarter valued at about $458,000.

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.