GE Vernova (NYSE:GEV) Shares Down 2.4% - Here's What Happened

Key Points

• GE Vernova Inc. shares fell by 2.4% on Tuesday, closing at $570.64 after a drop from a previous close of $584.39 with increased trading volume.
• Recent analyst reports have set varied price targets for the company's stock, ranging from $475.00 to $710.00, with a consensus rating of "Moderate Buy".
• GE Vernova announced a quarterly dividend of $0.25 per share, set to be paid on November 17th, translating to an annualized yield of 0.2%.

Shares of GE Vernova Inc. (NYSE:GEV - Get Free Report) dropped 2.4% on Tuesday . The stock traded as low as $565.00 and last traded at $570.6380. Approximately 3,556,459 shares traded hands during trading, an increase of 4% from the average daily volume of 3,426,197 shares. The stock had previously closed at $584.39.

Analysts Set New Price Targets

GEV has been the subject of several recent analyst reports. Redburn Partners set a $475.00 price objective on shares of GE Vernova in a report on Wednesday, October 15th. BMO Capital Markets lifted their price target on shares of GE Vernova from $690.00 to $710.00 and gave the company an "outperform" rating in a report on Thursday, October 23rd. Robert W. Baird lifted their price target on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $654.00 price target on shares of GE Vernova in a report on Monday. Finally, Mizuho decreased their price target on shares of GE Vernova from $677.00 to $660.00 and set a "neutral" rating for the company in a report on Friday. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $607.07.

GE Vernova Trading Down 2.4%

The stock has a market capitalization of $154.83 billion, a P/E ratio of 92.94, a P/E/G ratio of 4.22 and a beta of 1.72. The company's 50-day moving average is $610.51 and its two-hundred day moving average is $534.28.

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

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova's payout ratio is 16.29%.

Insider Activity at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the business'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 in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.15% of the company's stock.

Institutional Trading of GE Vernova

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of GE Vernova during the 1st quarter worth about $912,000. Pines Wealth Management LLC bought a new stake in shares of GE Vernova during the 2nd quarter worth about $408,000. Resona Asset Management Co. Ltd. raised its position in shares of GE Vernova by 8.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company's stock worth $26,229,000 after buying an additional 6,551 shares in the last quarter. Dupree Financial Group LLC bought a new stake in shares of GE Vernova during the 2nd quarter worth about $253,000. Finally, Lockheed Martin Investment Management Co. bought a new stake in shares of GE Vernova during the 1st quarter worth about $458,000.

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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