GE Vernova (NYSE:GEV) Shares Down 1.5% - Here's Why

Key Points

• GE Vernova's shares dropped by 1.5%, finishing at $654.31, with trading volume falling 86% below its average, indicating potential investor concern or market volatility.
• Despite the recent dip in stock price, several analysts have issued positive ratings, with Goldman Sachs raising the target price to $570.00 and Morgan Stanley to $675.00, signaling a consensus rating of "Moderate Buy."
• The company recently announced a quarterly dividend of $0.25 per share, reflecting a dividend yield of 0.2% and a payout ratio of 24.10%.

Shares of GE Vernova Inc. (NYSE:GEV - Get Free Report) dropped 1.5% during trading on Thursday . The company traded as low as $655.00 and last traded at $654.31. Approximately 518,598 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 3,619,264 shares. The stock had previously closed at $664.55.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GEV shares. The Goldman Sachs Group upped their target price on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Wolfe Research downgraded shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Glj Research began coverage on GE Vernova in a research report on Monday, June 23rd. They issued a "buy" rating on the stock. Morgan Stanley lifted their price target on shares of GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, TD Cowen upped their price objective on GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Ten research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $560.21.

GE Vernova Price Performance

The firm has a fifty day moving average price of $541.50 and a 200-day moving average price of $421.27. The company has a market capitalization of $175.92 billion, a P/E ratio of 155.71, a price-to-earnings-growth ratio of 4.49 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.23. The company 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 firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.65 earnings per share. On average, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently disclosed 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 is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is 24.10%.

Institutional Trading of GE Vernova

Several hedge funds have recently added to or reduced their stakes in the business. Capital International Investors raised its position in GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after purchasing an additional 2,994,660 shares during the last quarter. GAMMA Investing LLC increased its position in shares of GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after buying an additional 2,135,066 shares during the period. AQR Capital Management LLC raised its stake in GE Vernova by 252.9% in the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company's stock worth $366,016,000 after buying an additional 892,549 shares in the last quarter. Amundi boosted its position in GE Vernova by 109.0% during the 1st quarter. Amundi now owns 1,665,980 shares of the company's stock valued at $496,013,000 after acquiring an additional 868,927 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of GE Vernova by 10,044.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company's stock worth $445,773,000 after acquiring an additional 834,129 shares during the period.

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.

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