GE Vernova (NYSE:GEV) Stock Price Down 1.9% - Here's What Happened

Shares of GE Vernova Inc. (NYSE:GEV - Get Free Report) traded down 1.9% during trading on Friday. The company traded as low as $787.31 and last traded at $803.1720. 2,966,672 shares changed hands during trading, an increase of 6% from the average daily volume of 2,790,990 shares. The stock had previously closed at $818.49.

GE Vernova News Summary

Investors following GEV have been watching these news items:

• Positive Sentiment: The company reported new validation progress for hydrogen-ready aeroderivative turbines, supporting its push to serve lower-carbon power generation needs. Broader coverage also points to electricity demand, strong orders and a growing backlog as longer-term supports. Hydrogen turbine progress and nuclear project Demand, orders and backlog
• Positive Sentiment: Evercore ISI maintained its Buy rating and $1,350 price target, which the report described as 67% above the Nov. 11 close. That view may help support investor confidence after the stock’s retreat from its summer high. Evercore ISI outlook
• Negative Sentiment: Recent selling in GE Vernova and other power-related shares has been attributed to backlash and uncertainty around data-center and AI power demand. Separately, GLJ Research assigned the stock a Sell rating, providing a bearish counterpoint to Evercore’s stance. Data-center backlash GLJ Research Sell rating

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. TD Cowen reduced their price target on shares of GE Vernova from $1,235.00 to $1,125.00 and set a "buy" rating for the company in a research report on Thursday, October 29th. HSBC upgraded GE Vernova from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $1,040.00 to $1,100.00 in a report on Friday, October 30th. BNP Paribas Exane cut their price objective on GE Vernova from $1,190.00 to $1,090.00 and set a "neutral" rating for the company in a research note on Thursday, August 20th. Royal Bank Of Canada increased their target price on GE Vernova from $1,225.00 to $1,230.00 and gave the company an "outperform" rating in a report on Thursday, October 29th. Finally, Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,143.03.

GE Vernova Price Performance

The stock's 50-day moving average price is $915.80 and its 200 day moving average price is $947.62. The firm has a market capitalization of $212.58 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 2.63 and a beta of 1.25. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 0.22.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $4.81 earnings per share for the quarter, topping analysts' consensus estimates of $4.03 by $0.78. GE Vernova had a net margin of 23.54% and a return on equity of 46.50%. The firm had revenue of $12.64 billion for the quarter, compared to analyst estimates of $11.99 billion. During the same period in the previous year, the business posted $1.64 earnings per share. GE Vernova's quarterly revenue was up 26.8% on a year-over-year basis. Equities research analysts expect that GE Vernova Inc. will post 16.13 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, October 27th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, October 27th. GE Vernova's payout ratio is currently 5.25%.

Institutional Investors Weigh In On GE Vernova

Several hedge funds and other institutional investors have recently made changes to their positions in GEV. Hartree Partners LP purchased a new position in GE Vernova during the third quarter worth approximately $475,000. Coign Capital Advisors LLC boosted its stake in GE Vernova by 6.0% during the third quarter. Coign Capital Advisors LLC now owns 515 shares of the company's stock worth $490,000 after buying an additional 29 shares during the last quarter. US Asset Management LLC grew its holdings in GE Vernova by 9.1% in the 3rd quarter. US Asset Management LLC now owns 565 shares of the company's stock valued at $537,000 after buying an additional 47 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of GE Vernova by 6.2% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 248,678 shares of the company's stock worth $236,366,000 after acquiring an additional 14,471 shares during the last quarter. Finally, Insigneo Advisory Services LLC increased its stake in shares of GE Vernova by 21.4% in the 3rd quarter. Insigneo Advisory Services LLC now owns 3,989 shares of the company's stock worth $3,791,000 after acquiring an additional 702 shares during the last quarter.

About GE Vernova

GE Vernova is an energy technology company that designs, manufactures and services equipment used to generate, transmit and distribute electricity. It became an independent public company in April 2024 after separating from General Electric, which had built its energy businesses over more than a century. The company operates through three main businesses: Power, Wind and Electrification. Its offerings include gas and steam turbines, hydropower technologies and related services; onshore and offshore wind turbines; and grid equipment, power-conversion systems and software used to support electricity networks.

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