GE Vernova (NYSE:GEV) Shares Down 1.7% - Here's What Happened

Key Points

• GE Vernova shares fell 1.7% to about $997 during Monday trading, with volume 27% above the average. The company has a market capitalization of approximately $265.6 billion.
• Analysts remain broadly optimistic, with a consensus “Moderate Buy” rating and an average price target of $1,133.15; several firms recently raised their targets as high as $1,450.
• Quarterly revenue rose 21.9% year over year to $11.10 billion, exceeding estimates, but adjusted EPS of $2.47 missed consensus by $0.70. GE Vernova also pays a quarterly dividend of $0.50, representing a 0.2% yield.

Shares of GE Vernova Inc. (NYSE:GEV - Get Free Report) traded down 1.7% during trading on Monday . The stock traded as low as $941.87 and last traded at $997.1110. 3,566,833 shares changed hands during mid-day trading, an increase of 27% from the average daily volume of 2,815,275 shares. The stock had previously closed at $1,014.75.

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Wall Street Analyst Weigh In

A number of research analysts have weighed in on GEV shares. The Goldman Sachs Group reissued a "buy" rating and set a $1,328.00 price target on shares of GE Vernova in a research note on Friday, April 24th. Guggenheim upped their target price on GE Vernova from $1,300.00 to $1,450.00 and gave the company a "buy" rating in a research note on Thursday. TD Cowen raised their price target on GE Vernova from $1,220.00 to $1,235.00 and gave the stock a "buy" rating in a research note on Thursday. Jefferies Financial Group restated a "buy" rating on shares of GE Vernova in a report on Monday. Finally, BMO Capital Markets upped their price objective on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,133.15.

GE Vernova Stock Down 1.7%

The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $265.56 billion, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 3.72 and a beta of 1.09. The firm has a 50 day moving average price of $1,034.45 and a two-hundred day moving average price of $923.74.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). The business had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company's quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.86 EPS. On average, equities analysts expect that GE Vernova Inc. will post 15.16 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 16th. GE Vernova's dividend payout ratio (DPR) is currently 5.72%.

Insiders Place Their Bets

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Victor Abate sold 4,819 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the transaction, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GE Vernova

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tempo Wealth LLC raised its stake in shares of GE Vernova by 29.8% during the second quarter. Tempo Wealth LLC now owns 1,769 shares of the company's stock valued at $2,078,000 after purchasing an additional 406 shares during the period. Private Wealth Management Group LLC boosted its stake in shares of GE Vernova by 185.7% in the second quarter. Private Wealth Management Group LLC now owns 300 shares of the company's stock valued at $352,000 after purchasing an additional 195 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of GE Vernova by 8.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 75,512 shares of the company's stock valued at $88,716,000 after purchasing an additional 6,193 shares during the period. Bare Financial Services Inc grew its holdings in GE Vernova by 35.9% during the 2nd quarter. Bare Financial Services Inc now owns 53 shares of the company's stock valued at $62,000 after purchasing an additional 14 shares in the last quarter. Finally, Westside Investment Management Inc. increased its stake in GE Vernova by 14.4% during the 2nd quarter. Westside Investment Management Inc. now owns 637 shares of the company's stock worth $749,000 after buying an additional 80 shares during the period.

GE Vernova Company Profile

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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