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GE Vernova (NYSE:GEV) Trading Down 1.5% - Here's What Happened

GE Vernova logo with Energy background

Key Points

  • GE Vernova's share price decreased by 1.5%, closing at $585.12, after reaching a low of $581.76 during trading on Tuesday.
  • Analysts have boosted price targets for GE Vernova, with a consensus target of $601.44 and a rating of "Moderate Buy".
  • The company announced a quarterly dividend of $0.25, set to be paid on November 17th, with an ex-dividend date of October 20th.
  • Five stocks we like better than GE Vernova.

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s share price fell 1.5% on Tuesday . The stock traded as low as $581.76 and last traded at $585.12. 3,921,464 shares were traded during mid-day trading, an increase of 16% from the average session volume of 3,387,801 shares. The stock had previously closed at $594.07.

Analysts Set New Price Targets

GEV has been the subject of a number of recent analyst reports. Mizuho upped their price objective on GE Vernova from $670.00 to $677.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 15th. Bank of America boosted their target price on shares of GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Morgan Stanley upped their target price on shares of GE Vernova from $675.00 to $690.00 and gave the stock an "overweight" rating in a research report on Thursday, October 16th. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, UBS Group initiated coverage on shares of GE Vernova in a report on Monday, July 7th. They set a "buy" rating and a $614.00 price objective for the company. Four research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, GE Vernova has a consensus rating of "Moderate Buy" and a consensus price target of $601.44.

Check Out Our Latest Analysis on GEV

GE Vernova Trading Down 1.5%

The company has a 50-day moving average price of $615.29 and a two-hundred day moving average price of $524.40. The stock has a market cap of $159.28 billion, a P/E ratio of 140.99, a P/E/G ratio of 4.34 and a beta of 1.72.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same period in the previous year, the firm earned $4.65 earnings per share. GE Vernova's quarterly revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is presently 24.10%.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the sale, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.15% of the company's stock.

Institutional Trading of GE Vernova

A number of hedge funds have recently bought and sold shares of GEV. Brighton Jones LLC raised its position in shares of GE Vernova by 29.4% in 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. GAMMA Investing LLC grew its stake in GE Vernova by 8.4% in the first quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock valued at $2,142,000 after purchasing an additional 542 shares during the last quarter. Heartland Bank & Trust Co bought a new position in GE Vernova in the first quarter worth about $297,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of GE Vernova by 4.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 41,579 shares of the company's stock valued at $12,693,000 after buying an additional 1,597 shares during the last quarter. Finally, Flagship Harbor Advisors LLC boosted its holdings in shares of GE Vernova by 21.3% in the 1st quarter. Flagship Harbor Advisors LLC now owns 2,435 shares of the company's stock valued at $743,000 after buying an additional 427 shares in the last quarter.

About GE Vernova

(Get Free Report)

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.

See Also

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