GE Vernova (NYSE:GEV) Trading Down 6.3% – What’s Next?

GE Vernova Inc. (NYSE:GEV)’s share price fell 6.3% during trading on Monday . The company traded as low as $305.25 and last traded at $307.19. 2,464,093 shares were traded during mid-day trading, a decline of 33% from the average session volume of 3,663,377 shares. The stock had previously closed at $327.88.

Analyst Ratings Changes

Several research analysts have recently weighed in on GEV shares. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a research report on Friday, January 24th. TD Cowen began coverage on shares of GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 price target for the company. Jefferies Financial Group boosted their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Bank of America raised their target price on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, Evercore ISI boosted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Eight research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $350.13.

GE Vernova Stock Performance

The stock has a market capitalization of $87.93 billion and a price-to-earnings ratio of 57.17. The business has a fifty day simple moving average of $364.41 and a 200 day simple moving average of $301.20.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share 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 analyst estimates of $10.70 billion. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.31%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

GE Vernova announced that its board has authorized a share repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

Institutional Trading of GE Vernova

Several large investors have recently modified their holdings of the stock. Cypress Asset Management Inc. TX bought a new stake in GE Vernova during the fourth quarter worth about $457,000. Ameriflex Group Inc. acquired a new stake in shares of GE Vernova during the 4th quarter worth approximately $106,000. Ascent Group LLC increased its stake in GE Vernova by 2.3% in the fourth quarter. Ascent Group LLC now owns 1,908 shares of the company’s stock valued at $628,000 after acquiring an additional 42 shares during the last quarter. Aberdeen Wealth Management LLC acquired a new position in GE Vernova during the fourth quarter valued at approximately $229,000. Finally, Vermillion Wealth Management Inc. bought a new stake in GE Vernova during the fourth quarter worth $80,000.

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.