GE Vernova (NYSE:GEV) Shares Down 1.6% - Time to Sell?

Key Points

• GE Vernova shares fell 1.6% to $897.30, with trading volume about 30% above the average session volume. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $1,133.15, although Morgan Stanley downgraded the stock to “underweight” and Wall Street Zen cut it to “hold.”
• In its latest quarter, GE Vernova’s $2.47 EPS missed estimates of $3.17, but revenue reached $11.10 billion—above expectations and up 21.9% year over year.

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s share price traded down 1.6% during trading on Monday . The stock traded as low as $882.00 and last traded at $897.30. Approximately 3,543,506 shares traded hands during mid-day trading, an increase of 30% from the average session volume of 2,729,615 shares. The stock had previously closed at $911.93.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GEV shares. Jefferies Financial Group restated a "buy" rating on shares of GE Vernova in a research note on Monday, July 27th. Morgan Stanley lowered GE Vernova from an "overweight" rating to an "underweight" rating in a research note on Monday, August 3rd. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Guggenheim upped their price target on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. Finally, William Blair reiterated an "outperform" rating on shares of GE Vernova in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,133.15.

GE Vernova Trading Down 1.6%

The company's fifty day simple moving average is $1,031.82 and its 200-day simple moving average is $975.58. The firm has a market capitalization of $238.98 billion, a PE ratio of 25.68, a P/E/G ratio of 3.28 and a beta of 1.21. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62.

GE Vernova (NYSE:GEV - Get Free Report) last released 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 for the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The firm's revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter last year, the company earned $1.86 EPS. As a group, sell-side analysts expect that GE Vernova Inc. will post 15.46 earnings per share for the current fiscal year.

Institutional Trading of GE Vernova

Large investors have recently made changes to their positions in the company. Brighton Jones LLC raised its position in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after buying an additional 753 shares during the last quarter. Schnieders Capital Management LLC. boosted its position in GE Vernova by 1.7% during the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company's stock worth $828,000 after acquiring an additional 26 shares during the last quarter. Jump Financial LLC purchased a new stake in GE Vernova during the 2nd quarter valued at about $258,000. Ossiam purchased a new stake in GE Vernova during the 2nd quarter valued at about $42,000. Finally, Nebula Research & Development LLC raised its holdings in GE Vernova by 23.9% in the 2nd quarter. Nebula Research & Development LLC now owns 1,674 shares of the company's stock valued at $886,000 after acquiring an additional 323 shares during 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.

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