GE Vernova (NYSE:GEV) Trading Down 6.3% - What's Next?

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s stock price traded down 6.3% during trading on Monday . The stock traded as low as $305.25 and last traded at $307.19. 2,464,093 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 3,663,377 shares. The stock had previously closed at $327.88.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GEV shares. William Blair reaffirmed an "outperform" rating on shares of GE Vernova in a report on Thursday, January 23rd. Evercore ISI upped their target price on GE Vernova from $385.00 to $390.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. lifted their price target on GE Vernova from $374.00 to $436.00 and gave the company an "overweight" rating in a research report on Thursday, January 23rd. TD Cowen assumed coverage on GE Vernova in a report on Thursday, December 5th. They set a "buy" rating and a $400.00 price objective for the company. Finally, Baird R W raised shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, February 13th. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and a consensus price target of $350.13.

GE Vernova Stock Down 0.1 %

The company has a market capitalization of $92.36 billion and a PE ratio of 60.20. The stock's fifty day moving average price is $364.13 and its two-hundred day moving average price is $303.37.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion during the quarter, compared to analysts' expectations of $10.70 billion. The company's quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date was Friday, December 20th. GE Vernova's payout ratio is currently 17.99%.

GE Vernova declared that its Board of Directors has approved a stock buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

Institutional Investors Weigh In On GE Vernova

Large investors have recently modified their holdings of the stock. Waverton Investment Management Ltd boosted its position in GE Vernova by 10.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company's stock valued at $185,459,000 after acquiring an additional 66,455 shares in the last quarter. Register Financial Advisors LLC bought a new stake in shares of GE Vernova during the fourth quarter valued at approximately $206,000. Hanlon Investment Management Inc. purchased a new stake in GE Vernova in the third quarter worth $1,101,000. Atria Investments Inc raised its holdings in GE Vernova by 127.0% in the third quarter. Atria Investments Inc now owns 5,088 shares of the company's stock worth $1,297,000 after purchasing an additional 2,847 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC lifted its position in GE Vernova by 1,126.0% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company's stock valued at $294,000 after buying an additional 822 shares during the period.

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.