GE Vernova (NYSE:GEV) Trading Down 2% - What's Next?

Key Points

• GE Vernova shares fell 2% to approximately $951.90, below both the 50-day and 200-day moving averages, on trading volume well below its daily average.
• Analysts remain broadly positive, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $1,155.28; several firms recently raised their targets, although one downgrade to “Hold” was reported.
• The company’s latest quarter showed 21.9% year-over-year revenue growth to $11.10 billion, but EPS of $2.47 missed the $3.17 consensus estimate by $0.70.

GE Vernova Inc. (NYSE:GEV - Get Free Report) shares fell 2% during trading on Wednesday . The stock traded as low as $949.06 and last traded at $951.9030. Approximately 1,470,480 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 2,699,288 shares. The stock had previously closed at $971.31.

Wall Street Analyst Weigh In

GEV has been the subject of several analyst reports. TD Cowen increased their target price on GE Vernova from $1,220.00 to $1,235.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Royal Bank Of Canada boosted their price objective 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. JPMorgan Chase & Co. raised their target price on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of GE Vernova in a report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,155.28.

GE Vernova Stock Down 2.0%

The company's fifty day simple moving average is $1,009.73 and its 200 day simple moving average is $981.53. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $253.52 billion, a P/E ratio of 27.24, a price-to-earnings-growth ratio of 4.38 and a beta of 1.15.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 return on equity of 42.42% and a net margin of 23.03%.GE Vernova's quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.86 earnings per share. Research analysts expect that GE Vernova Inc. will post 15.36 EPS for the current year.

Hedge Funds Weigh In On GE Vernova

Institutional investors and hedge funds have recently made changes to their positions in the business. Parvin Asset Management LLC bought a new position in shares of GE Vernova during the second quarter valued at $32,000. Pingora Partners LLC purchased a new stake in shares of GE Vernova during the second quarter valued at approximately $36,000. Manning & Napier Advisors LLC increased its position in shares of GE Vernova by 68.4% during the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock valued at $26,000 after acquiring an additional 13 shares in the last quarter. IMG Wealth Management Inc. bought a new position in GE Vernova in the 2nd quarter valued at approximately $39,000. Finally, Miller Global Investments LLC boosted its stake in GE Vernova by 63.6% during the 2nd quarter. Miller Global Investments LLC now owns 36 shares of the company's stock valued at $42,000 after purchasing an additional 14 shares during the last quarter.

GE Vernova Company Profile

GE Vernova Inc NYSE: GEV is an energy technology company that provides equipment, software and services for electricity generation, transmission and distribution. Its portfolio is designed to support power systems across a range of energy sources, including natural gas, nuclear, hydroelectric, wind and solar power, as well as battery storage.

The company operates through three primary businesses: Power, Wind and Electrification. Power supplies gas and steam turbines, generators, nuclear power technologies, hydroelectric equipment and related maintenance services.

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