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

GE Vernova Inc. (NYSE:GEV)’s share price gapped down before the market opened on Monday . The stock had previously closed at $420.49, but opened at $339.60. GE Vernova shares last traded at $341.49, with a volume of 4,488,771 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Raymond James downgraded GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. HSBC reiterated a “hold” rating and set a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Barclays increased their price objective on GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Citigroup lifted their target price on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Finally, Bank of America upped their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $342.94.

GE Vernova Stock Up 7.5 %

The company has a market capitalization of $97.80 billion and a price-to-earnings ratio of 63.81. The company has a 50-day moving average price of $353.77 and a 200-day moving average price of $275.94.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results 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 return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. Equities analysts expect that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s payout ratio is currently 17.99%.

GE Vernova announced that its board has initiated 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 purchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On GE Vernova

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

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.