Shares of GE Vernova Inc. (NYSE:GEV - Get Free Report) dropped 5.8% during mid-day trading on Tuesday . The company traded as low as $541.44 and last traded at $547.4140. Approximately 3,979,652 shares were traded during trading, an increase of 17% from the average daily volume of 3,408,016 shares. The stock had previously closed at $581.26.
Wall Street Analyst Weigh In
A number of analysts have commented on the company. Guggenheim lowered GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Jefferies Financial Group reiterated a "hold" rating and set a $654.00 price target on shares of GE Vernova in a report on Monday, October 27th. Weiss Ratings reissued a "hold (c)" rating on shares of GE Vernova in a research report on Wednesday, October 8th. Citigroup cut their price objective on shares of GE Vernova from $670.00 to $658.00 and set a "neutral" rating on the stock in a report on Thursday, October 23rd. Finally, Melius upgraded shares of GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 target price for the company in a report on Monday, September 15th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and a consensus target price of $607.81.
Get Our Latest Stock Analysis on GE Vernova
GE Vernova Trading Down 5.8%
The stock has a fifty day simple moving average of $607.92 and a two-hundred day simple moving average of $544.77. The firm has a market cap of $148.52 billion, a PE ratio of 89.16, a price-to-earnings-growth ratio of 4.35 and a beta of 1.69.
GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results 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 return on equity of 17.07% and a net margin of 4.52%.The company's revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.
GE Vernova Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders 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 dividend payout ratio (DPR) is 16.29%.
Insider Transactions at GE Vernova
In related news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.15% of the company's stock.
Hedge Funds Weigh In On GE Vernova
Several institutional investors have recently modified their holdings of GEV. IMA Advisory Services Inc. purchased a new position in shares of GE Vernova during the first quarter worth approximately $27,000. WFA Asset Management Corp purchased a new position in GE Vernova in the 2nd quarter worth $29,000. Mowery & Schoenfeld Wealth Management LLC lifted its stake in GE Vernova by 115.2% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after purchasing an additional 53 shares during the last quarter. 1248 Management LLC bought a new stake in GE Vernova in the first quarter worth $31,000. Finally, Howard Hughes Medical Institute purchased a new stake in GE Vernova during the second quarter valued at about $31,000.
GE Vernova Company Profile
(
Get Free Report)
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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