GE Vernova (NYSE:GEV) Stock Price Down 1.7% - Here's Why

Key Points

• GE Vernova shares fell 1.7% to about $925.74, with trading volume roughly 26% below the average session volume.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and average price target of $1,133.15, although Wall Street Zen and Zacks Research recently downgraded the stock to “Hold.”
• The company’s latest quarterly EPS of $2.47 missed estimates of $3.17, despite revenue of $11.10 billion beating expectations and rising 21.9% year over year.

GE Vernova Inc. (NYSE:GEV - Get Free Report) dropped 1.7% during trading on Tuesday . The company traded as low as $923.54 and last traded at $925.7430. Approximately 2,016,365 shares were traded during trading, a decline of 26% from the average session volume of 2,739,538 shares. The stock had previously closed at $942.10.

Analyst Ratings Changes

GEV has been the subject of several research analyst reports. TD Cowen lifted their price objective on GE Vernova from $1,220.00 to $1,235.00 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Jefferies Financial Group restated a "buy" rating on shares of GE Vernova in a research note on Monday, July 27th. Wall Street Zen cut GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Zacks Research cut shares of GE Vernova from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 28th. Finally, William Blair reiterated an "outperform" rating on shares of GE Vernova in a report on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,133.15.

GE Vernova Stock Performance

The stock has a market cap of $246.55 billion, a P/E ratio of 26.50, a price-to-earnings-growth ratio of 3.41 and a beta of 1.21. The stock's 50 day simple moving average is $1,041.97 and its two-hundred day simple moving average is $970.76. 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 posted its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The firm had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. During the same quarter in the previous year, the business posted $1.86 earnings per share. The firm's quarterly revenue was up 21.9% compared to the same quarter last year. As a group, research analysts forecast that GE Vernova Inc. will post 15.57 EPS for the current year.

Insider Buying and Selling at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the transaction, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company's stock.

Institutional Trading of GE Vernova

Large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its holdings in shares of GE Vernova by 116,092.4% in the 2nd quarter. California State Teachers Retirement System now owns 483,330,355 shares of the company's stock valued at $567,845,501,000 after purchasing an additional 482,914,381 shares during the period. Auto Owners Insurance Co increased its holdings in shares of GE Vernova by 110,973.4% during the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company's stock worth $2,278,224,000 after acquiring an additional 34,826,773 shares during the last quarter. BlackRock Inc. bought a new position in shares of GE Vernova in the second quarter valued at about $25,569,630,000. Norges Bank bought a new stake in shares of GE Vernova during the fourth quarter worth approximately $2,283,114,000. Finally, Bank of America Corp DE bought a new stake in GE Vernova in the 2nd quarter valued at $2,961,612,000.

About GE Vernova

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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