GE Vernova (NYSE:GEV) Shares Down 0.8% – Time to Sell?

Shares of GE Vernova Inc. (NYSE:GEVGet Free Report) were down 0.8% during mid-day trading on Monday . The stock traded as low as $357.00 and last traded at $367.43. Approximately 2,238,001 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 4,236,943 shares. The stock had previously closed at $370.31.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GEV shares. Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. BMO Capital Markets lifted 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. Jefferies Financial Group lifted their price target on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Truist Financial lifted their price target on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $350.13.

Read Our Latest Research Report on GE Vernova

GE Vernova Trading Down 0.8 %

The firm’s 50 day simple moving average is $361.74 and its two-hundred day simple moving average is $294.36. The firm has a market cap of $101.28 billion and a price-to-earnings ratio of 66.08.

GE Vernova (NYSE:GEVGet Free Report) 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. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova’s payout ratio is presently 17.99%.

GE Vernova declared that its Board of Directors has approved a stock repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On GE Vernova

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cedar Mountain Advisors LLC raised its position in shares of GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares in the last quarter. MRP Capital Investments LLC acquired a new position in GE Vernova during the 4th quarter worth approximately $25,000. Fairway Wealth LLC increased its position in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Pineridge Advisors LLC increased its position in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after purchasing an additional 69 shares in the last quarter. Finally, Navigoe LLC bought a new stake in GE Vernova during the 4th quarter worth approximately $27,000.

GE Vernova Company Profile

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for GE Vernova Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GE Vernova and related companies with MarketBeat.com's FREE daily email newsletter.