GE Vernova (NYSE:GEV) Trading Down 1.2% - Should You Sell?

Key Points

• GE Vernova's stock price decreased by 1.2%, trading at $639.69 after reaching a low of $639.00, with significantly lower trading volume compared to its average.
• Analysts have recently set varied price targets for GE Vernova, with upgrades from Robert W. Baird to $706.00 and JPMorgan to $715.00, while Guggenheim downgraded from a "buy" to a "neutral" rating.
• The company announced a quarterly dividend of $0.25, which will be paid on August 18, representing an annual yield of 0.16% and a payout ratio of 24.10%.

GE Vernova Inc. (NYSE:GEV - Get Free Report) fell 1.2% on Tuesday . The stock traded as low as $639.00 and last traded at $639.69. 895,314 shares were traded during trading, a decline of 76% from the average session volume of 3,672,719 shares. The stock had previously closed at $647.66.

Analyst Ratings Changes

Several research firms have weighed in on GEV. Guggenheim cut shares of GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday. Wells Fargo & Company lifted their price objective on shares of GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Glj Research began coverage on shares of GE Vernova in a research report on Monday, June 23rd. They set a "buy" rating on the stock. Wall Street Zen cut shares of GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Mizuho cut shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price objective on the stock. in a research report on Monday. Ten equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $560.21.

GE Vernova Stock Performance

The stock has a market cap of $180.14 billion, a price-to-earnings ratio of 158.89, a price-to-earnings-growth ratio of 4.53 and a beta of 1.86. The stock's 50-day simple moving average is $526.57 and its two-hundred day simple moving average is $413.87.

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

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Shareholders 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 dividend on an annualized basis and a yield of 0.2%. GE Vernova's payout ratio is currently 24.10%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GEV. WFA Asset Management Corp acquired a new position in shares of GE Vernova during the second quarter valued at about $29,000. Highline Wealth Partners LLC raised its position in shares of GE Vernova by 34.6% during the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock valued at $37,000 after buying an additional 18 shares during the last quarter. Raleigh Capital Management Inc. acquired a new position in shares of GE Vernova during the second quarter valued at about $37,000. Advantage Trust Co acquired a new position in shares of GE Vernova during the second quarter valued at about $40,000. Finally, Solstein Capital LLC acquired a new position in shares of GE Vernova during the second quarter valued at about $44,000.

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.