GE Vernova (NYSE:GEV) Stock Price Down 3.1% - Here's Why

Key Points

• GE Vernova shares fell 3.1% to about $997.79 in mid-day trading, with volume below its average. The stock has a market capitalization of approximately $265.7 billion.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $1,171.87, despite one recent downgrade to “hold.”
• The company reported strong revenue growth of 21.9% year over year, but quarterly EPS of $2.47 missed estimates of $3.17. GE Vernova also declared a $0.50 quarterly dividend, equivalent to a 0.2% annualized yield.

Shares of GE Vernova Inc. (NYSE:GEV - Get Free Report) fell 3.1% during mid-day trading on Wednesday. The company traded as low as $980.47 and last traded at $997.7940. Approximately 1,804,353 shares traded hands during trading, a decline of 32% from the average session volume of 2,649,627 shares. The stock had previously closed at $1,029.21.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. The Goldman Sachs Group upgraded GE Vernova from a "buy" rating to a "market outperform" rating in a report on Monday, September 14th. Royal Bank Of Canada increased their price target on GE Vernova from $1,195.00 to $1,225.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Guggenheim raised their price objective on GE Vernova from $1,300.00 to $1,450.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. Finally, Mizuho lifted their price objective on shares of GE Vernova from $913.00 to $949.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Two investment 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and a consensus target price of $1,171.87.

GE Vernova Stock Down 3.1%

The stock has a fifty day moving average of $965.26 and a 200 day moving average of $996.71. The firm has a market capitalization of $265.74 billion, a P/E ratio of 28.56, a price-to-earnings-growth ratio of 3.35 and a beta of 1.14. 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 announced 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). The business 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 firm's revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.86 EPS. On average, research analysts anticipate that GE Vernova Inc. will post 15.38 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Tuesday, October 27th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, October 27th. GE Vernova's dividend payout ratio (DPR) is 5.72%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Onyx Bridge Wealth Group LLC grew its holdings in GE Vernova by 1.3% in the first quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company's stock valued at $635,000 after purchasing an additional 9 shares during the period. Red Door Wealth Management LLC boosted its holdings in shares of GE Vernova by 0.6% in the 1st quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company's stock valued at $1,548,000 after purchasing an additional 10 shares during the last quarter. Advance Capital Management Inc. grew its stake in shares of GE Vernova by 2.2% during the 1st quarter. Advance Capital Management Inc. now owns 461 shares of the company's stock valued at $402,000 after buying an additional 10 shares during the period. Alpha Financial Partners LLC grew its stake in shares of GE Vernova by 2.0% during the 1st quarter. Alpha Financial Partners LLC now owns 514 shares of the company's stock valued at $449,000 after buying an additional 10 shares during the period. Finally, Sandy Cove Advisors LLC increased its holdings in shares of GE Vernova by 2.6% during the 2nd quarter. Sandy Cove Advisors LLC now owns 389 shares of the company's stock worth $457,000 after buying an additional 10 shares during the last quarter.

GE Vernova Company Profile

GE Vernova Inc NYSE: GEV is an energy technology company formed through the separation of General Electric's energy businesses in April 2024. The company is focused on helping generate, transmit, distribute and store electricity as power systems adapt to rising demand and the transition toward lower-carbon energy sources.

GE Vernova operates across three principal business areas: Power, Wind and Electrification. Its products and services include gas and steam power generation equipment, nuclear and hydropower technologies, onshore and offshore wind turbines, wind services, grid equipment, electrification systems, energy storage solutions and software used to monitor and manage energy infrastructure.

The company serves utilities, independent power producers, industrial customers and other energy-sector organizations in markets around the world.

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