GE Vernova (NYSE:GEV) Trading Down 1% – Here’s Why

GE Vernova Inc. (NYSE:GEV) shares were down 1% on Monday . The company traded as low as $372.00 and last traded at $374.34. Approximately 599,925 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 3,917,575 shares. The stock had previously closed at $377.97.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GEV. TD Cowen initiated coverage on GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target for the company. Wells Fargo & Company boosted their price target on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Truist Financial increased their price objective 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. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Finally, Barclays increased their price target on GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $346.22.

GE Vernova Stock Down 0.8 %

The stock has a market capitalization of $101.92 billion and a P/E ratio of 66.50. The company has a 50-day moving average price of $360.36 and a two-hundred day moving average price of $290.17.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The firm’s revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is 17.99%.

GE Vernova declared that its board has approved a stock buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of GE Vernova

Several institutional investors and hedge funds have recently modified their holdings of the business. MRP Capital Investments LLC purchased a new stake in GE Vernova in the fourth quarter valued at approximately $25,000. Cedar Mountain Advisors LLC increased its holdings 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 worth $25,000 after buying an additional 39 shares during the last quarter. Fairway Wealth LLC raised its position in shares of GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after buying an additional 55 shares in the last quarter. Pineridge Advisors LLC lifted its holdings in shares of 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 acquiring an additional 69 shares during the last quarter. Finally, Asset Planning Inc bought a new stake in GE Vernova during the fourth quarter worth about $35,000.

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.