GE Vernova (NYSE:GEV) Trading Down 1.2% – Time to Sell?

GE Vernova Inc. (NYSE:GEV)’s share price dropped 1.2% during mid-day trading on Friday . The company traded as low as $632.46 and last traded at $652.69. Approximately 1,472,758 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 3,661,104 shares. The stock had previously closed at $660.29.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of recent research reports. Citigroup lifted their price target on shares of GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Glj Research began coverage on shares of GE Vernova in a report on Monday, June 23rd. They set a “buy” rating on the stock. Barclays raised their price objective on shares of GE Vernova from $580.00 to $706.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company raised their price objective on shares of GE Vernova from $474.00 to $697.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $560.21.

GE Vernova Trading Down 0.5%

The business’s fifty day moving average price is $530.40 and its 200 day moving average price is $415.97. The firm has a market capitalization of $178.76 billion, a price-to-earnings ratio of 158.23, a PEG ratio of 4.54 and a beta of 1.90.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same period last year, the firm posted $4.65 EPS. GE Vernova’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Monday, July 21st. GE Vernova’s dividend payout ratio (DPR) is 24.10%.

Hedge Funds Weigh In On GE Vernova

Hedge funds and other institutional investors have recently bought and sold shares of the company. Navigoe LLC purchased a new position in GE Vernova in the 4th quarter valued at $27,000. EQ Wealth Advisors LLC purchased a new stake in shares of GE Vernova during the 1st quarter worth $27,000. IMA Advisory Services Inc. purchased a new stake in shares of GE Vernova during the 1st quarter worth $27,000. Clarity Asset Management Inc. purchased a new stake in shares of GE Vernova during the 4th quarter worth $28,000. Finally, WFA Asset Management Corp purchased a new stake in shares of GE Vernova during the 2nd quarter worth $29,000.

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.