GE Vernova (NYSE:GEV) Shares Down 10.3% - Here's What Happened

Key Points

• Shares dropped 10.3% to about $615 (intraday low $613.09) on Wednesday, with volume up ~96% to 6.73 million shares versus the average of 3.43 million.
• Analysts remain largely bullish—firms including Susquehanna, Oppenheimer, Bank of America and JPMorgan raised or reiterated positive ratings—leaving an average analyst rating of Moderate Buy and an average price target of $680.52.
• GE Vernova raised its quarterly dividend to $0.50 (annualized $2.00, yield ~0.3%), and its latest quarter showed revenue of $9.97 billion (up 11.8% YoY and beating estimates) while EPS of $1.64 missed consensus.

GE Vernova Inc. (NYSE:GEV - Get Free Report) shares were down 10.3% during trading on Wednesday . The stock traded as low as $613.09 and last traded at $615.8640. Approximately 6,730,246 shares changed hands during trading, an increase of 96% from the average daily volume of 3,427,823 shares. The stock had previously closed at $686.22.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Susquehanna lifted their target price on GE Vernova from $750.00 to $775.00 and gave the stock a "positive" rating in a report on Wednesday, December 10th. Oppenheimer upgraded GE Vernova from a "market perform" rating to an "outperform" rating and set a $855.00 price target for the company in a report on Wednesday, December 10th. Bank of America upped their price objective on GE Vernova from $725.00 to $804.00 and gave the stock a "buy" rating in a report on Wednesday, December 10th. JPMorgan Chase & Co. reiterated an "overweight" rating on shares of GE Vernova in a research report on Wednesday, December 10th. Finally, Cowen restated a "buy" rating on shares of GE Vernova in a research report on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, GE Vernova has an average rating of "Moderate Buy" and an average price target of $680.52.

GE Vernova Stock Down 10.3%

The company's 50 day moving average price is $600.25 and its two-hundred day moving average price is $586.50. The firm has a market cap of $167.10 billion, a PE ratio of 100.30, a P/E/G ratio of 5.20 and a beta of 1.71.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The firm had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the previous year, the company posted ($0.35) earnings per share. The business's revenue for the quarter was up 11.8% on a year-over-year basis. On average, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. This is an increase from GE Vernova's previous quarterly dividend of $0.25. GE Vernova's dividend payout ratio is 16.29%.

Institutional Trading of GE Vernova

Institutional investors and hedge funds have recently made changes to their positions in the business. Jackson Grant Investment Advisers Inc. lifted its holdings in GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company's stock valued at $25,000 after buying an additional 31 shares in the last quarter. Wealth Watch Advisors INC purchased a new stake in shares of GE Vernova in the third quarter valued at approximately $25,000. Bay Harbor Wealth Management LLC grew its stake in GE Vernova by 537.5% in the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company's stock worth $31,000 after purchasing an additional 43 shares in the last quarter. Elevation Wealth Partners LLC increased its holdings in GE Vernova by 47.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company's stock worth $33,000 after purchasing an additional 17 shares during the period. Finally, Deseret Mutual Benefit Administrators raised its position in GE Vernova by 112.0% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company's stock valued at $33,000 after purchasing an additional 28 shares in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.