GE Vernova (NYSE:GEV) Shares Down 1.3% - Time to Sell?

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s stock price fell 1.3% during trading on Friday . The stock traded as low as $474.21 and last traded at $481.47. 813,495 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 3,275,222 shares. The stock had previously closed at $487.67.

Wall Street Analyst Weigh In

Several brokerages have commented on GEV. Truist Financial set a $440.00 target price on shares of GE Vernova in a research note on Thursday, March 27th. Royal Bank of Canada reduced their price target on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a report on Tuesday, March 18th. Morgan Stanley reiterated an "overweight" rating and issued a $422.00 price target (up previously from $400.00) on shares of GE Vernova in a report on Thursday, April 24th. BMO Capital Markets upped their price target on shares of GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Finally, TD Cowen reduced their price target on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $404.56.

GE Vernova Price Performance

The company has a market capitalization of $133.11 billion, a P/E ratio of 87.71, a price-to-earnings-growth ratio of 3.03 and a beta of 1.97. The company's 50-day moving average price is $408.13 and its two-hundred day moving average price is $365.83.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company's revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.47) earnings per share. On average, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova's payout ratio is presently 14.41%.

Hedge Funds Weigh In On GE Vernova

A number of hedge funds have recently bought and sold shares of the business. BROOKFIELD Corp ON increased its position in GE Vernova by 0.3% during the first quarter. BROOKFIELD Corp ON now owns 10,564 shares of the company's stock worth $3,225,000 after acquiring an additional 35 shares during the period. 1248 Management LLC bought a new position in GE Vernova during the first quarter worth about $31,000. First Hawaiian Bank bought a new position in GE Vernova during the first quarter worth about $341,000. Modern Wealth Management LLC increased its position in GE Vernova by 33.1% during the first quarter. Modern Wealth Management LLC now owns 2,296 shares of the company's stock worth $701,000 after acquiring an additional 571 shares during the period. Finally, Strs Ohio bought a new position in GE Vernova during the first quarter worth about $51,894,000.

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.