GE Vernova (NYSE:GEV) Stock Price Down 5.8% - Here's What Happened

Key Points

• GE Vernova Inc. (NYSE: GEV) experienced a significant stock price drop of 5.8%, closing at $577.17 after trading as low as $567.86.
• Despite the drop, several analysts have issued optimistic ratings, with target price adjustments ranging from $500.00 to $736.00, reflecting an overall consensus of a "Moderate Buy".
• The company declared a quarterly dividend of $0.25, resulting in an annualized yield of 0.2%, with a dividend payout ratio of 24.10%.

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s stock price traded down 5.8% during trading on Tuesday . The stock traded as low as $567.86 and last traded at $577.17. 2,099,676 shares were traded during mid-day trading, a decline of 40% from the average session volume of 3,506,956 shares. The stock had previously closed at $612.97.

Analyst Ratings Changes

GEV has been the topic of several research reports. The Goldman Sachs Group upped their target price on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Wells Fargo & Company increased their target price on GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Wolfe Research downgraded GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Bank of America increased their price objective on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Finally, Susquehanna boosted their target price on shares of GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and a consensus target price of $560.21.

GE Vernova Stock Performance

The stock has a market capitalization of $157.07 billion, a P/E ratio of 139.04, a price-to-earnings-growth ratio of 4.24 and a beta of 1.88. The business has a 50 day simple moving average of $592.03 and a 200-day simple moving average of $452.65.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.23. The firm had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date was Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is currently 24.10%.

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 on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the transaction, the chief financial officer owned 7,590 shares of the company's stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.15% of the company's stock.

Hedge Funds Weigh In On GE Vernova

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sachetta LLC lifted its holdings in GE Vernova by 10.7% during the 2nd quarter. Sachetta LLC now owns 165 shares of the company's stock worth $87,000 after buying an additional 16 shares during the period. Good Life Advisors LLC increased its position in GE Vernova by 1.0% during the 2nd quarter. Good Life Advisors LLC now owns 1,654 shares of the company's stock valued at $875,000 after purchasing an additional 16 shares during the period. Bell Investment Advisors Inc increased its stake in GE Vernova by 6.7% during the 2nd quarter. Bell Investment Advisors Inc now owns 256 shares of the company's stock valued at $135,000 after purchasing an additional 16 shares in the last quarter. AMG National Trust Bank grew its position in GE Vernova by 1.5% during the second quarter. AMG National Trust Bank now owns 1,145 shares of the company's stock valued at $606,000 after buying an additional 17 shares during the period. Finally, Graney & King LLC raised its position in shares of GE Vernova by 2.4% during the second quarter. Graney & King LLC now owns 722 shares of the company's stock valued at $382,000 after buying an additional 17 shares during the last quarter.

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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