GE Vernova (NYSE:GEV) Shares Down 0.6% – What’s Next?

GE Vernova Inc. (NYSE:GEV) was down 0.6% on Thursday . The stock traded as low as $365.00 and last traded at $367.53. Approximately 611,455 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 3,717,457 shares. The stock had previously closed at $369.65.

Analysts Set New Price Targets

Several equities analysts recently commented on GEV shares. Citigroup boosted their price target on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Morgan Stanley boosted their target price on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Truist Financial raised their price target on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. TD Cowen began coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective for the company. Finally, Wells Fargo & Company raised their price target on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Eight investment analysts have rated the stock with a hold rating, twenty have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $350.13.

GE Vernova Trading Down 0.4 %

The business has a fifty day moving average price of $360.87 and a two-hundred day moving average price of $290.73. The company has a market cap of $101.52 billion and a price-to-earnings ratio of 66.24.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s revenue was up 5.1% compared to the same quarter last year. On average, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is 17.99%.

GE Vernova announced that its Board of Directors 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 buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Trading of GE Vernova

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Exchange Traded Concepts LLC raised its stake in shares of GE Vernova by 628.5% in the third quarter. Exchange Traded Concepts LLC now owns 3,803 shares of the company’s stock valued at $970,000 after purchasing an additional 3,281 shares in the last quarter. Wesbanco Bank Inc. boosted its position in GE Vernova by 5.8% in the third quarter. Wesbanco Bank Inc. now owns 14,736 shares of the company’s stock valued at $3,757,000 after buying an additional 802 shares in the last quarter. Creative Planning grew its stake in GE Vernova by 11.4% during the third quarter. Creative Planning now owns 52,641 shares of the company’s stock worth $13,422,000 after buying an additional 5,382 shares during the last quarter. Magnus Financial Group LLC acquired a new stake in shares of GE Vernova during the third quarter worth approximately $203,000. Finally, Petredis Investment Advisors LLC raised its stake in shares of GE Vernova by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 13,412 shares of the company’s stock valued at $3,420,000 after acquiring an additional 53 shares during the last quarter.

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.