GE Vernova (NYSE:GEV) Shares Down 1.2% - Here's Why

Key Points

• GE Vernova Inc. (NYSE:GEV) shares fell by 1.2% during mid-day trading, with approximately 1.47 million shares traded—significantly lower than the average daily volume.
• The company received mixed analyst ratings, with BMO Capital Markets increasing its price target from $590 to $690, while Jefferies Financial Group downgraded the stock from "buy" to "hold."
• GE Vernova announced a quarterly dividend of $0.25 per share, translating to a 0.2% yield and indicating a dividend payout ratio of 24.10%.

Shares of GE Vernova Inc. (NYSE:GEV - Get Free Report) dropped 1.2% during mid-day trading on Friday . The company traded as low as $632.46 and last traded at $652.69. Approximately 1,472,758 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 3,661,104 shares. The stock had previously closed at $660.29.

Analyst Ratings Changes

GEV has been the subject of a number of recent research reports. BMO Capital Markets lifted their price objective on GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. UBS Group began coverage on shares of GE Vernova in a research note on Monday, July 7th. They issued a "buy" rating and a $614.00 price target for the company. Barclays upped their price objective on shares of GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Jefferies Financial Group cut shares of GE Vernova from a "buy" rating to a "hold" rating and upped their target price for the company from $427.00 to $517.00 in a report on Thursday, May 29th. Finally, The Goldman Sachs Group upped their target price on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Ten research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $560.21.

GE Vernova Price Performance

The stock's 50-day simple moving average is $526.57 and its 200 day simple moving average is $413.87. The stock has a market capitalization of $178.88 billion, a P/E ratio of 157.91, a PEG ratio of 4.53 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the previous year, the firm earned $4.65 earnings per share. The business's quarterly revenue was up 11.1% on a year-over-year basis. As a group, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is currently 24.10%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Navigoe LLC purchased a new stake in GE Vernova in the fourth quarter worth $27,000. EQ Wealth Advisors LLC purchased a new stake in GE Vernova during the first quarter valued at $27,000. IMA Advisory Services Inc. purchased a new stake in GE Vernova in the first quarter worth about $27,000. Clarity Asset Management Inc. bought a new position in shares of GE Vernova in the fourth quarter worth about $28,000. Finally, WFA Asset Management Corp bought a new position in GE Vernova during the second quarter valued at approximately $29,000.

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.

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