GE Vernova (NYSE:GEV) Stock Price Down 1.8% – Here’s Why

GE Vernova Inc. (NYSE:GEV) shares were down 1.8% on Tuesday . The stock traded as low as $355.15 and last traded at $355.33. Approximately 730,381 shares changed hands during trading, a decline of 82% from the average daily volume of 4,155,180 shares. The stock had previously closed at $361.71.

Analyst Ratings Changes

Several research analysts recently weighed in on GEV shares. William Blair restated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Citigroup increased their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft began coverage on shares of GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Finally, BMO Capital Markets increased their price target on shares of GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Eight research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $342.94.

GE Vernova Price Performance

The business’s 50-day moving average price is $355.93 and its two-hundred day moving average price is $281.46. The firm has a market cap of $98.09 billion and a price-to-earnings ratio of 64.00.

GE Vernova (NYSE:GEV) last posted 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 the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.33 earnings per share for the current year.

GE Vernova Dividend Announcement

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

GE Vernova declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Trading of GE Vernova

Several hedge funds and other institutional investors have recently bought and sold shares of GEV. Pine Valley Investments Ltd Liability Co lifted its holdings in GE Vernova by 9.8% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 4,970 shares of the company’s stock valued at $1,635,000 after purchasing an additional 443 shares during the last quarter. Rothschild Investment LLC raised its position in shares of GE Vernova by 2.8% during the fourth quarter. Rothschild Investment LLC now owns 1,932 shares of the company’s stock worth $635,000 after purchasing an additional 53 shares during the period. Wealthstream Advisors Inc. grew its holdings in shares of GE Vernova by 19.4% during the fourth quarter. Wealthstream Advisors Inc. now owns 1,535 shares of the company’s stock worth $505,000 after buying an additional 249 shares in the last quarter. IFP Advisors Inc grew its stake in GE Vernova by 16.2% in the fourth quarter. IFP Advisors Inc now owns 4,835 shares of the company’s stock valued at $1,590,000 after purchasing an additional 675 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of GE Vernova during the 4th quarter worth approximately $1,073,000.

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.