GE Vernova (NYSE:GEV) Shares Down 3.8% - Here's What Happened

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s share price fell 3.8% during mid-day trading on Thursday . The stock traded as low as $462.58 and last traded at $466.78. 837,100 shares were traded during trading, a decline of 75% from the average session volume of 3,325,440 shares. The stock had previously closed at $485.01.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GEV. TD Cowen lowered their target price on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. CICC Research started coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They set an "outperform" rating for the company. JPMorgan Chase & Co. raised their price objective on GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Guggenheim reaffirmed a "buy" rating and issued a $380.00 target price on shares of GE Vernova in a research report on Thursday, April 24th. Finally, BMO Capital Markets lifted their price target on GE Vernova from $381.00 to $522.00 and gave the stock an "outperform" rating in a research note on Friday. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $385.78.

GE Vernova Stock Up 0.1%

The firm has a market cap of $128.71 billion and a P/E ratio of 84.81. The business's 50 day moving average is $371.84 and its 200-day moving average is $355.23.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.54. The firm had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.47) EPS. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were paid a $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.

Hedge Funds Weigh In On GE Vernova

Several institutional investors have recently modified their holdings of GEV. MRP Capital Investments LLC bought a new stake in GE Vernova in the 4th quarter valued at $25,000. Fairway Wealth LLC increased its holdings in GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Pineridge Advisors LLC increased its stake in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after buying an additional 69 shares during the period. Navigoe LLC bought a new position in GE Vernova in the fourth quarter worth approximately $27,000. Finally, Clarity Asset Management Inc. purchased a new stake in shares of GE Vernova in the fourth quarter worth approximately $28,000.

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.