GE Vernova (NYSE:GEV) Shares Down 1.8% – Time to Sell?

GE Vernova Inc. (NYSE:GEV) shares traded down 1.8% on Friday . The stock traded as low as $795.11 and last traded at $801.76. 2,017,745 shares were traded during mid-day trading, a decline of 39% from the average session volume of 3,288,477 shares. The stock had previously closed at $816.56.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company raised their price target on GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. The Goldman Sachs Group boosted their price objective on shares of GE Vernova from $840.00 to $925.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. BMO Capital Markets reiterated an “outperform” rating and set a $785.00 price objective on shares of GE Vernova in a research note on Thursday, January 29th. Robert W. Baird set a $923.00 price target on GE Vernova and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Finally, China Renaissance upgraded GE Vernova to a “strong-buy” rating in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $788.24.

GE Vernova Trading Down 1.8%

The firm’s fifty day moving average is $686.41 and its 200-day moving average is $634.43. The stock has a market capitalization of $216.10 billion, a PE ratio of 45.04, a price-to-earnings-growth ratio of 3.28 and a beta of 1.67.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating the consensus estimate of $2.99 by $10.40. The firm had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.73 earnings per share. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, January 5th were issued a dividend of $0.50 per share. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, January 5th. GE Vernova’s dividend payout ratio is 11.24%.

Hedge Funds Weigh In On GE Vernova

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of GE Vernova in the fourth quarter valued at about $2,283,114,000. Northwestern Mutual Wealth Management Co. increased its position in GE Vernova by 5,171.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock worth $1,603,114,000 after buying an additional 2,406,326 shares during the period. Capital World Investors boosted its position in GE Vernova by 1,907.5% during the 3rd quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock worth $1,325,842,000 after acquiring an additional 2,048,792 shares during the period. Arrowstreet Capital Limited Partnership raised its position in GE Vernova by 273.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock worth $798,126,000 after acquiring an additional 1,104,747 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of GE Vernova by 170.0% in the third quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company’s stock worth $722,956,000 after acquiring an additional 740,339 shares in the last quarter.

GE Vernova Company Profile

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.