GE Vernova (NYSE:GEV) Shares Down 1.5% - What's Next?

Key Points

• GE Vernova shares fell 1.5% to about $907.78, trading below both their 50-day and 200-day moving averages.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $1,164.87 price target, although several firms recently lowered targets or downgraded the stock.
• The company reported strong 21.9% year-over-year revenue growth to $11.10 billion, but quarterly EPS of $2.47 missed estimates of $3.17. GE Vernova also announced a $0.50 quarterly dividend, representing a 0.2% yield.

GE Vernova Inc. (NYSE:GEV - Get Free Report) shares dropped 1.5% on Monday. The stock traded as low as $903.92 and last traded at $907.7780. Approximately 2,614,232 shares changed hands during trading, a decline of 1% from the average session volume of 2,638,938 shares. The stock had previously closed at $921.20.

Analyst Ratings Changes

A number of brokerages recently weighed in on GEV. Susquehanna lowered their target price on shares of GE Vernova from $1,300.00 to $1,270.00 and set a "positive" rating for the company in a research note on Wednesday, October 14th. Wall Street Zen lowered shares of GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. JPMorgan Chase & Co. cut their price target on shares of GE Vernova from $1,330.00 to $1,150.00 and set an "overweight" rating on the stock in a research report on Friday, October 9th. Mizuho upped their price target on shares of GE Vernova from $913.00 to $949.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Finally, Morgan Stanley downgraded GE Vernova from an "overweight" rating to an "underweight" rating in a report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,164.87.

GE Vernova Price Performance

The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The firm has a market capitalization of $241.77 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 3.19 and a beta of 1.14. The business's fifty day simple moving average is $962.80 and its 200 day simple moving average is $1,002.38.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company's revenue for the quarter was up 21.9% on a year-over-year basis. During the same period last year, the firm posted $1.86 earnings per share. On average, research analysts forecast that GE Vernova Inc. will post 15.04 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Tuesday, October 27th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, October 27th. GE Vernova's payout ratio is presently 5.72%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GEV. Manning & Napier Advisors LLC lifted its holdings in GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock worth $26,000 after buying an additional 13 shares during the period. Parvin Asset Management LLC bought a new stake in GE Vernova during the 2nd quarter valued at approximately $32,000. Strategic Wealth Advisors LLC purchased a new position in shares of GE Vernova during the 2nd quarter worth approximately $35,000. Pingora Partners LLC purchased a new position in shares of GE Vernova during the 2nd quarter worth approximately $36,000. Finally, IMG Wealth Management Inc. purchased a new position in shares of GE Vernova during the 2nd quarter worth approximately $39,000.

GE Vernova Company Profile

GE Vernova Inc NYSE: GEV is an energy technology company focused on helping generate, transmit, store and deliver electricity. The company serves utilities, power producers, grid operators, commercial and industrial customers, and other energy-sector participants worldwide.

Its business is organized around three primary areas: Power, Wind and Electrification. Power provides technologies and services for gas and steam power generation, hydropower, nuclear power and other energy systems.

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