GE Vernova (NYSE:GEV) Stock Price Down 5.8% - Should You Sell?

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 share price traded down 5.8% during trading on Wednesday . The stock traded as low as $625.25 and last traded at $619.56. 1,193,782 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 3,576,073 shares. The stock had previously closed at $657.44.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GEV shares. Wolfe Research lowered GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. UBS Group began coverage on GE Vernova in a research report on Monday, July 7th. They issued a "buy" rating and a $614.00 target price for the company. BMO Capital Markets lifted their target price on GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Morgan Stanley lifted their target price on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group lifted 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. Ten 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 stock. According to data from MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and a consensus target price of $560.21.

GE Vernova Price Performance

The stock has a 50 day simple moving average of $555.12 and a two-hundred day simple moving average of $427.68. The company has a market cap of $172.46 billion, a PE ratio of 152.70, a PEG ratio of 4.50 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates 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 company earned $4.65 earnings per share. As a group, equities analysts anticipate 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 will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is currently 24.10%.

Hedge Funds Weigh In On GE Vernova

Hedge funds have recently made changes to their positions in the stock. WFA Asset Management Corp purchased a new stake in shares of GE Vernova during the 2nd quarter worth about $29,000. Highline Wealth Partners LLC lifted its position in GE Vernova by 34.6% during the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock valued at $37,000 after buying an additional 18 shares in the last quarter. Raleigh Capital Management Inc. purchased a new stake in GE Vernova during the second quarter worth approximately $37,000. Advantage Trust Co acquired a new stake in shares of GE Vernova in the second quarter worth $40,000. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of GE Vernova in the second quarter worth $40,000.

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.

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