GE Vernova (NYSE:GEV) Shares Down 2.2% - Should You Sell?

Key Points

• GE Vernova Inc. (NYSE:GEV) shares fell 2.2% amid trading, with the stock last priced at $648.20. This represents a significant decline from the previous day's close at $662.77.
• Analysts have generally positive outlooks for GE Vernova, with Susquehanna and Barclays raising their price targets to $736.00 and $706.00 respectively, contributing to a consensus rating of "Moderate Buy."
• GE Vernova reported a Q2 earnings per share of $1.86, exceeding estimates of $1.63, alongside a revenue of $9.11 billion, marking an 11.1% increase over the year.

GE Vernova Inc. (NYSE:GEV - Get Free Report) shares traded down 2.2% during mid-day trading on Tuesday . The stock traded as low as $644.00 and last traded at $648.20. 797,549 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 3,641,425 shares. The stock had previously closed at $662.77.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Susquehanna boosted their target price on shares of GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Robert W. Baird boosted their price target on shares of GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Royal Bank Of Canada reissued an "outperform" rating on shares of GE Vernova in a report on Thursday, July 24th. Seaport Res Ptn raised shares of GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Finally, Barclays boosted their price target on shares of GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and an average price target of $560.21.

GE Vernova Stock Performance

The firm's 50-day moving average price is $534.36 and its two-hundred day moving average price is $417.97. The stock has a market cap of $177.07 billion, a price-to-earnings ratio of 157.10, a PEG ratio of 4.54 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. During the same quarter in the prior year, the company posted $4.65 earnings per share. GE Vernova's revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business 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 $0.25 dividend. 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 dividend payout ratio is presently 24.10%.

Institutional Trading of GE Vernova

Hedge funds have recently made changes to their positions in the business. Navigoe LLC purchased a new position in GE Vernova in the fourth quarter valued at approximately $27,000. EQ Wealth Advisors LLC purchased a new position in GE Vernova in the first quarter valued at approximately $27,000. IMA Advisory Services Inc. purchased a new position in shares of GE Vernova during the first quarter worth approximately $27,000. Clarity Asset Management Inc. purchased a new position in shares of GE Vernova during the fourth quarter worth approximately $28,000. Finally, WFA Asset Management Corp purchased a new position in shares of GE Vernova during the second quarter worth approximately $29,000.

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.

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