GE Vernova (NYSE:GEV) Trading Down 3.1% – What’s Next?

Shares of GE Vernova Inc. (NYSE:GEV) were down 3.1% during mid-day trading on Friday . The stock traded as low as $421.19 and last traded at $424.31. Approximately 1,033,515 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 2,913,513 shares. The stock had previously closed at $437.71.

Wall Street Analyst Weigh In

A number of analysts have commented on GEV shares. Barclays lifted their target price on GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a report on Thursday. Evercore ISI boosted their target price on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Thursday. Royal Bank of Canada reissued an “outperform” rating and set a $376.00 price objective on shares of GE Vernova in a report on Wednesday, December 11th. Finally, The Goldman Sachs Group raised their target price on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday. Eight research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $339.73.

GE Vernova Stock Performance

The company has a market cap of $115.57 billion and a P/E ratio of 75.41. The firm’s fifty day moving average is $353.38 and its two-hundred day moving average is $272.29.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities research analysts expect that GE Vernova Inc. will post 6.61 EPS for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend is Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

GE Vernova announced that its Board of Directors has approved a stock repurchase program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Cedar Mountain Advisors LLC grew its holdings in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares in the last quarter. Castleview Partners LLC bought a new position in shares of GE Vernova during the 3rd quarter valued at approximately $28,000. Riggs Asset Managment Co. Inc. grew its holdings in shares of GE Vernova by 93.4% in the fourth quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock valued at $39,000 after purchasing an additional 57 shares in the last quarter. Covestor Ltd increased its position in GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares during the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in GE Vernova during the third quarter valued at $31,000.

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.