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

Key Points

• GE Vernova's stock price fell by 5.8%, closing at $619.56, with trading volume decreasing significantly by 67% compared to its average session volume.
• Despite the drop, analysts maintain a generally positive outlook, with a consensus target price of $560.21 and a rating of "Moderate Buy," indicating strong buy interest with 18 analysts recommending buys.
• The company recently announced a quarterly dividend of $0.25 per share, which highlights its ongoing commitment to return capital to shareholders, despite the stock's recent volatility.

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s stock price dropped 5.8% during trading on Wednesday . The company traded as low as $625.25 and last traded at $619.56. Approximately 1,193,782 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 3,576,073 shares. The stock had previously closed at $657.44.

Analyst Ratings Changes

GEV has been the topic of a number of research analyst reports. Robert W. Baird boosted their target price on GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Royal Bank Of Canada restated an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. Bank of America upped their price objective on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Jefferies Financial Group downgraded GE Vernova from a "buy" rating to a "hold" rating and upped their price objective for the company from $427.00 to $517.00 in a research report on Thursday, May 29th. Finally, Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Ten research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, GE Vernova presently has a consensus rating of "Moderate Buy" and a consensus price target of $560.21.

GE Vernova Stock Down 0.7%

The company has a market cap of $169.11 billion, a P/E ratio of 149.69, a PEG ratio of 4.30 and a beta of 1.90. The firm has a 50 day moving average of $563.55 and a 200-day moving average of $433.53.

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

GE Vernova Announces Dividend

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

Institutional Trading of GE Vernova

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Navigoe LLC bought a new stake in GE Vernova during the 4th quarter valued at $27,000. EQ Wealth Advisors LLC acquired a new stake in shares of GE Vernova in the 1st quarter worth $27,000. IMA Advisory Services Inc. acquired a new stake in shares of GE Vernova in the 1st quarter worth $27,000. Clarity Asset Management Inc. acquired a new stake in shares of GE Vernova in the 4th quarter worth $28,000. Finally, WFA Asset Management Corp acquired a new stake in shares of GE Vernova in the 2nd quarter worth $29,000.

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.