GE Vernova (NYSE:GEV) Shares Down 1.3% – Time to Sell?

GE Vernova Inc. (NYSE:GEV)’s stock price dropped 1.3% on Tuesday . The company traded as low as $317.70 and last traded at $325.85. Approximately 4,193,616 shares traded hands during mid-day trading, an increase of 10% from the average daily volume of 3,803,373 shares. The stock had previously closed at $330.00.

Analyst Ratings Changes

GEV has been the topic of a number of research reports. TD Cowen initiated coverage on shares of GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective on the stock. Bank of America increased their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Jefferies Financial Group increased their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. raised their price target on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Finally, HSBC restated a “hold” rating and set a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $342.94.

GE Vernova Trading Up 7.5 %

The company’s 50 day moving average is $353.47 and its 200 day moving average is $274.72. The stock has a market capitalization of $97.80 billion and a price-to-earnings ratio of 63.81.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. Analysts anticipate that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend is Friday, December 20th. GE Vernova’s payout ratio is currently 17.99%.

GE Vernova declared that its Board of Directors has initiated a stock buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Institutional Trading of GE Vernova

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cedar Mountain Advisors LLC boosted its holdings in shares of GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after acquiring an additional 39 shares in the last quarter. Castleview Partners LLC purchased a new stake in GE Vernova during the third quarter worth about $28,000. Pathway Financial Advisers LLC purchased a new stake in GE Vernova during the second quarter worth about $29,000. Covestor Ltd boosted its holdings in GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in GE Vernova during the third quarter worth about $31,000.

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.