GE Vernova (NYSE:GEV) Stock Price Down 2.2% - What's Next?

Shares of GE Vernova Inc. (NYSE:GEV - Get Free Report) were down 2.2% during mid-day trading on Monday . The stock traded as low as $348.95 and last traded at $364.75. Approximately 1,675,865 shares were traded during trading, a decline of 60% from the average daily volume of 4,200,525 shares. The stock had previously closed at $372.88.

Analyst Upgrades and Downgrades

GEV has been the topic of several analyst reports. Wolfe Research assumed coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $403.00 price objective on the stock. Bank of America increased their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Wells Fargo & Company upped their price target on shares of GE Vernova from $385.00 to $411.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. William Blair reissued an "outperform" rating on shares of GE Vernova in a research report on Thursday, January 23rd. Finally, TD Cowen started coverage on shares of GE Vernova in a research note on Thursday, December 5th. They issued a "buy" rating and a $400.00 price target for the company. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $342.94.

GE Vernova Stock Performance

The firm has a market capitalization of $103.28 billion and a P/E ratio of 67.39. The stock has a 50 day moving average of $356.93 and a 200-day moving average of $283.41.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts' consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion during the quarter, compared to analysts' expectations of $10.70 billion. The company's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.33 EPS for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. GE Vernova's dividend payout ratio (DPR) is 17.99%.

GE Vernova announced that its Board of Directors has authorized a stock buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Hedge Funds Weigh In On GE Vernova

Large investors have recently modified their holdings of the company. Armstrong Advisory Group Inc. boosted its position in shares of GE Vernova by 3.5% during the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company's stock valued at $262,000 after acquiring an additional 27 shares during the last quarter. Hengehold Capital Management LLC increased its holdings in shares of GE Vernova by 2.4% in the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company's stock worth $405,000 after buying an additional 29 shares during the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of GE Vernova by 1.6% during the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company's stock worth $611,000 after acquiring an additional 30 shares during the last quarter. Mutual Advisors LLC grew its position in GE Vernova by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company's stock worth $888,000 after acquiring an additional 31 shares in the last quarter. Finally, WASHINGTON TRUST Co increased its stake in GE Vernova by 1.9% in the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company's stock valued at $560,000 after acquiring an additional 31 shares during the last quarter.

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.