GE Vernova (NYSE:GEV) Trading Down 4.3% - Should You Sell?

Key Points

• Shares of GE Vernova were down 4.3% intraday, trading as low as $807 and last at about $816.15, with volume slightly below its average (≈2.81M vs. 2.89M).
• Wall Street remains broadly positive with a consensus rating of "Moderate Buy" and a $854.52 average price target, while Morgan Stanley recently raised its target to $960 and several firms carry Buy/Outperform ratings.
• The company reported a sizeable beat (quarterly EPS $13.39 vs. $2.99 estimate and revenue $10.96B vs. $10.21B) and declared a quarterly dividend of $0.50 (annualized $2.00, ~0.2% yield), with a market cap near $220B.

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s share price was down 4.3% during trading on Monday . The stock traded as low as $807.00 and last traded at $816.1530. Approximately 2,812,296 shares changed hands during mid-day trading, a decline of 3% from the average daily volume of 2,885,477 shares. The stock had previously closed at $853.16.

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of recent research reports. Morgan Stanley lifted their price target on GE Vernova from $817.00 to $960.00 and gave the company an "overweight" rating in a research note on Monday, March 23rd. BMO Capital Markets reiterated an "outperform" rating and issued a $785.00 price objective on shares of GE Vernova in a report on Thursday, January 29th. Mizuho set a $714.00 target price on shares of GE Vernova in a research report on Tuesday, February 3rd. JPMorgan Chase & Co. reissued an "overweight" rating on shares of GE Vernova in a report on Wednesday, December 10th. Finally, Robert W. Baird set a $923.00 price target on shares of GE Vernova and gave the company an "outperform" rating in a research report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $854.52.

GE Vernova Stock Down 4.3%

The company has a market cap of $219.98 billion, a price-to-earnings ratio of 45.85, a PEG ratio of 3.35 and a beta of 1.45. The firm has a 50 day moving average price of $802.93 and a two-hundred day moving average price of $682.73.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, topping analysts' consensus estimates of $2.99 by $10.40. The company had revenue of $10.96 billion for the quarter, compared to analyst estimates of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.73 earnings per share. On average, equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th 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 of this dividend is Tuesday, March 17th. GE Vernova's dividend payout ratio is currently 11.24%.

Hedge Funds Weigh In On GE Vernova

Hedge funds have recently bought and sold shares of the company. Auto Owners Insurance Co grew its stake in GE Vernova by 110,973.4% during the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company's stock worth $2,278,224,000 after purchasing an additional 34,826,773 shares during the period. Norges Bank acquired a new position in GE Vernova in the fourth quarter valued at approximately $2,283,114,000. Northwestern Mutual Wealth Management Co. lifted its stake in GE Vernova by 5,171.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company's stock valued at $1,603,114,000 after buying an additional 2,406,326 shares during the period. Capital World Investors boosted its holdings in shares of GE Vernova by 1,907.5% during the 3rd quarter. Capital World Investors now owns 2,156,197 shares of the company's stock worth $1,325,842,000 after buying an additional 2,048,792 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in shares of GE Vernova by 2,802.8% during the 4th quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company's stock worth $1,051,407,000 after buying an additional 1,553,295 shares in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.