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

GE Vernova Inc. (NYSE:GEV - Get Free Report) traded down 1.3% on Friday . The stock traded as low as $474.21 and last traded at $481.47. 813,495 shares were traded 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.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Guggenheim reissued a "buy" rating and issued a $380.00 price target on shares of GE Vernova in a report on Thursday, April 24th. Baird R W raised GE Vernova to a "strong-buy" rating in a report on Thursday, February 13th. Jefferies Financial Group downgraded GE Vernova from a "buy" rating to a "hold" rating and boosted their price target for the company from $427.00 to $517.00 in a report on Thursday, May 29th. TD Cowen decreased their price target on GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. boosted their price target on GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $395.98.

GE Vernova Trading Down 2.0%

The firm has a market capitalization of $130.44 billion, a PE ratio of 85.96, a PEG ratio of 3.03 and a beta of 1.97. The business has a fifty day moving average price of $408.13 and a two-hundred day moving average price of $365.41.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. The business had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company's revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.47) EPS. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

Hedge Funds Weigh In On GE Vernova

A number of hedge funds have recently modified their holdings of the business. Brighton Jones LLC lifted its stake in GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after acquiring an additional 753 shares in the last quarter. Empowered Funds LLC lifted its stake in GE Vernova by 61.0% during the 4th quarter. Empowered Funds LLC now owns 7,005 shares of the company's stock worth $2,304,000 after acquiring an additional 2,653 shares in the last quarter. Focus Financial Network Inc. acquired a new position in GE Vernova during the 4th quarter worth about $256,000. Stonebridge Financial Group LLC acquired a new position in GE Vernova during the 4th quarter worth about $104,000. Finally, Sovran Advisors LLC acquired a new position in GE Vernova during the 4th quarter worth about $281,000.

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.