GE Vernova (NYSE:GEV) Stock Price Down 2.4% – Should You Sell?

GE Vernova Inc. (NYSE:GEV)’s stock price traded down 2.4% on Tuesday . The company traded as low as $298.00 and last traded at $308.29. 2,118,920 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 3,751,023 shares. The stock had previously closed at $315.91.

Analyst Ratings Changes

A number of research analysts have recently commented on GEV shares. Jefferies Financial Group increased their price objective on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Baird R W upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Wolfe Research initiated coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective for the company. Truist Financial upped their price objective on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Eight 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $350.13.

GE Vernova Stock Performance

The company’s 50 day moving average price is $363.97 and its 200 day moving average price is $302.17. The company has a market cap of $86.72 billion and a price-to-earnings ratio of 56.46.

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

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.32%. GE Vernova’s dividend payout ratio is 17.99%.

GE Vernova declared that its board has approved a share repurchase program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Institutional Trading of GE Vernova

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mountaineer Partners Management LLC acquired a new stake in GE Vernova in the 3rd quarter valued at about $2,507,296,000. Norges Bank acquired a new stake in shares of GE Vernova in the fourth quarter valued at approximately $1,109,720,000. Capital International Investors raised its position in GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in GE Vernova by 1,638.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock worth $432,309,000 after buying an additional 1,238,690 shares in the last quarter. Finally, WCM Investment Management LLC boosted its position in GE Vernova by 83.1% in the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after buying an additional 1,161,901 shares during the last quarter.

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.