GE Vernova (NYSE:GEV) Trading Down 3.7% - What's Next?

Key Points

• GE Vernova shares fell 3.7% on Friday, trading as low as $1,042 after closing at $1,085.47 the prior session, with volume running above average.
• Despite the pullback, analysts remain broadly bullish: several firms raised price targets, and the consensus rating is “Moderate Buy” with a consensus target of $1,089.88.
• The company recently beat quarterly earnings expectations, posting $17.44 EPS versus $1.95 expected and $9.34 billion in revenue, while also announcing a $0.50 quarterly dividend.

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s share price traded down 3.7% during trading on Friday . The stock traded as low as $1,042.00 and last traded at $1,045.7410. 3,614,950 shares changed hands during trading, an increase of 29% from the average session volume of 2,799,080 shares. The stock had previously closed at $1,085.47.

Analysts Set New Price Targets

Several analysts have issued reports on GEV shares. BMO Capital Markets increased their price objective on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the company an "outperform" rating in a research report on Thursday, April 23rd. TD Cowen upped their target price on shares of GE Vernova from $780.00 to $1,220.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Weiss Ratings raised shares of GE Vernova from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, April 24th. Guggenheim lifted their price target on shares of GE Vernova from $910.00 to $1,300.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Finally, Royal Bank Of Canada boosted their price objective on shares of GE Vernova from $996.00 to $1,195.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,089.88.

GE Vernova Stock Down 3.7%

The firm has a fifty day simple moving average of $1,029.97 and a 200-day simple moving average of $862.69. The company has a market capitalization of $281.01 billion, a PE ratio of 30.46, a P/E/G ratio of 3.92 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.95 by $15.49. The business had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business's quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 earnings per share. Equities research analysts anticipate that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova's dividend payout ratio is 5.83%.

Insider Activity

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the transaction, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Victor Abate sold 4,819 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the sale, the chief executive officer directly owned 1,835 shares of the company's stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company's stock.

Institutional Investors Weigh In On GE Vernova

A number of institutional investors have recently made changes to their positions in GEV. World Investment Advisors increased its position in shares of GE Vernova by 19.9% during the fourth quarter. World Investment Advisors now owns 13,497 shares of the company's stock valued at $8,821,000 after purchasing an additional 2,241 shares during the period. US Bancorp DE lifted its position in GE Vernova by 2.2% in the third quarter. US Bancorp DE now owns 100,542 shares of the company's stock worth $61,824,000 after purchasing an additional 2,163 shares during the period. Varenne Capital Partners acquired a new stake in GE Vernova during the third quarter worth $4,872,000. Merit Financial Group LLC increased its holdings in GE Vernova by 17.4% in the 4th quarter. Merit Financial Group LLC now owns 15,080 shares of the company's stock valued at $9,856,000 after buying an additional 2,230 shares during the period. Finally, Vest Financial LLC increased its holdings in GE Vernova by 56.7% in the 4th quarter. Vest Financial LLC now owns 66,191 shares of the company's stock valued at $43,260,000 after buying an additional 23,956 shares during the period.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

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