GE Vernova (NYSE:GEV) Trading Down 0.8% – What’s Next?

GE Vernova Inc. (NYSE:GEV)’s stock price fell 0.8% during trading on Wednesday . The company traded as low as $366.25 and last traded at $370.28. 349,453 shares were traded during trading, a decline of 90% from the average session volume of 3,588,418 shares. The stock had previously closed at $373.25.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Barclays boosted their price objective on GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Morgan Stanley upped their price target on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Guggenheim lowered shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a report on Friday, January 24th. The Goldman Sachs Group boosted their target price on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Finally, Truist Financial raised their target price on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.13.

GE Vernova Stock Down 0.1 %

The company’s 50 day simple moving average is $363.28 and its 200-day simple moving average is $297.19. The firm has a market cap of $102.88 billion and a P/E ratio of 67.07.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. Equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova’s payout ratio is presently 17.99%.

GE Vernova declared that its board has approved a stock buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On GE Vernova

Several large investors have recently added to or reduced their stakes in the stock. Creative Planning boosted its holdings in shares of GE Vernova by 11.4% in the third quarter. Creative Planning now owns 52,641 shares of the company’s stock valued at $13,422,000 after purchasing an additional 5,382 shares during the period. Howard Capital Management Group LLC bought a new stake in GE Vernova during the 3rd quarter valued at $213,000. Stratos Wealth Advisors LLC purchased a new stake in shares of GE Vernova in the 3rd quarter worth $305,000. Blue Trust Inc. bought a new position in shares of GE Vernova during the 3rd quarter worth $602,000. Finally, Resonant Capital Advisors LLC purchased a new position in shares of GE Vernova during the third quarter valued at $240,000.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.