GE Vernova (NYSE:GEV) Shares Down 1.5% - Should You Sell?

Key Points

• GE Vernova shares fell 1.5% to about $942.69, below both the 50-day moving average of $1,042.72 and the 200-day average of $969.61.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $1,133.15; recent targets range as high as $1,450.
• The company’s latest quarter showed 21.9% year-over-year revenue growth to $11.10 billion, but earnings per share of $2.47 missed estimates by $0.70. CEO Victor Abate also sold roughly $4.57 million in shares, reducing his position by 72.42%.

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s share price fell 1.5% during mid-day trading on Monday . The stock traded as low as $925.74 and last traded at $942.6890. 1,888,369 shares were traded during mid-day trading, a decline of 31% from the average session volume of 2,744,054 shares. The stock had previously closed at $956.85.

Analysts Set New Price Targets

GEV has been the subject of a number of recent research reports. Oppenheimer increased their price objective on GE Vernova from $1,303.00 to $1,338.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Wall Street Zen cut GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Guggenheim boosted their target price on GE Vernova from $1,300.00 to $1,450.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Royal Bank Of Canada upped their target price on GE Vernova from $1,195.00 to $1,225.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Finally, William Blair reiterated an "outperform" rating on shares of GE Vernova in a research report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,133.15.

GE Vernova Trading Down 1.5%

The firm has a market cap of $251.07 billion, a price-to-earnings ratio of 26.98, a PEG ratio of 3.41 and a beta of 1.21. The company has a 50-day moving average price of $1,042.72 and a 200 day moving average price of $969.61. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). The business had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm's quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.86 earnings per share. As a group, research analysts anticipate that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Victor Abate sold 4,819 shares of the company's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the transaction, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GEV. Parvin Asset Management LLC purchased a new stake in shares of GE Vernova during the second quarter worth $32,000. Pingora Partners LLC purchased a new position in GE Vernova in the second quarter valued at about $36,000. Manning & Napier Advisors LLC grew its stake in GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock valued at $26,000 after purchasing an additional 13 shares in the last quarter. IMG Wealth Management Inc. purchased a new position in GE Vernova in the second quarter valued at about $39,000. Finally, Miller Global Investments LLC increased its position in GE Vernova by 63.6% in the 2nd quarter. Miller Global Investments LLC now owns 36 shares of the company's stock worth $42,000 after purchasing an additional 14 shares during the last quarter.

About GE Vernova

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

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