GE Vernova (NYSE:GEV) Shares Down 1.8% After Analyst Downgrade

Key Points

• GE Vernova's stock dropped 1.8% after Mizuho downgraded the stock's price target from $677.00 to $660.00 and maintained a neutral rating.
• Despite the downgrade, the company has seen a mix of ratings from analysts, with four indicating a strong buy and a consensus target price of $607.59.
• GE Vernova recently announced a quarterly dividend of $0.25 per share, reflecting a yield of 0.2% and a dividend payout ratio of 24.10%.

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s stock price was down 1.8% during mid-day trading on Friday after Mizuho lowered their price target on the stock from $677.00 to $660.00. Mizuho currently has a neutral rating on the stock. GE Vernova traded as low as $584.18 and last traded at $584.68. Approximately 3,622,367 shares changed hands during trading, an increase of 6% from the average daily volume of 3,427,969 shares. The stock had previously closed at $595.15.

A number of other equities research analysts have also recently issued reports on GEV. TD Cowen decreased their price objective on shares of GE Vernova from $685.00 to $680.00 and set a "buy" rating for the company in a report on Thursday. Weiss Ratings reiterated a "hold (c)" rating on shares of GE Vernova in a report on Wednesday, October 8th. HSBC boosted their target price on shares of GE Vernova from $570.00 to $580.00 and gave the stock a "hold" rating in a research report on Friday, September 5th. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $715.00 to $740.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Jefferies Financial Group boosted their target price on shares of GE Vernova from $658.00 to $668.00 and gave the stock a "hold" rating in a research report on Friday, September 12th. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, GE Vernova has an average rating of "Moderate Buy" and a consensus target price of $607.59.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.15% of the company's stock.

Institutional Trading of GE Vernova

Large investors have recently added to or reduced their stakes in the company. IMA Advisory Services Inc. bought a new stake in GE Vernova during the first quarter worth about $27,000. WFA Asset Management Corp bought a new stake in GE Vernova during the second quarter worth about $29,000. Mowery & Schoenfeld Wealth Management LLC grew its stake in GE Vernova by 115.2% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after buying an additional 53 shares during the last quarter. 1248 Management LLC bought a new stake in GE Vernova during the first quarter worth about $31,000. Finally, Howard Hughes Medical Institute bought a new stake in shares of GE Vernova during the second quarter valued at approximately $31,000.

GE Vernova Price Performance

The company's 50 day moving average price is $612.04 and its 200 day moving average price is $527.31. The firm has a market capitalization of $159.16 billion, a P/E ratio of 95.23, a PEG ratio of 4.17 and a beta of 1.72.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same period last year, the company earned ($0.35) earnings per share. GE Vernova's revenue for the quarter was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is presently 24.10%.

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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