GE Vernova (NYSE:GEV) Trading Down 5.5% – Should You Sell?

GE Vernova Inc. (NYSE:GEV)’s stock price fell 5.5% during trading on Friday . The company traded as low as $338.87 and last traded at $339.88. 1,458,915 shares were traded during mid-day trading, a decline of 59% from the average session volume of 3,553,197 shares. The stock had previously closed at $359.68.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GEV. Barclays increased their price target on shares of GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Jefferies Financial Group increased their price target on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Truist Financial increased their price target on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. CICC Research started coverage on shares of GE Vernova in a report on Wednesday. They set an “outperform” rating for the company. Finally, BMO Capital Markets increased their target price on shares of GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Eight research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.13.

GE Vernova Stock Performance

The company has a market cap of $90.90 billion and a price-to-earnings ratio of 59.22. The stock’s fifty day simple moving average is $364.50 and its two-hundred day simple moving average is $298.16.

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

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

GE Vernova declared that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On GE Vernova

A number of hedge funds have recently made changes to their positions in the business. Vermillion Wealth Management Inc. purchased a new position in shares of GE Vernova in the 4th quarter valued at $80,000. Mackenzie Financial Corp raised its stake in shares of GE Vernova by 5.1% in the 4th quarter. Mackenzie Financial Corp now owns 24,808 shares of the company’s stock valued at $8,160,000 after acquiring an additional 1,194 shares during the period. Jupiter Wealth Management LLC purchased a new position in shares of GE Vernova in the 4th quarter valued at $329,000. Toronto Dominion Bank raised its stake in shares of GE Vernova by 8.6% in the 4th quarter. Toronto Dominion Bank now owns 147,639 shares of the company’s stock valued at $48,563,000 after acquiring an additional 11,701 shares during the period. Finally, Retirement Planning Group LLC NY purchased a new stake in GE Vernova during the 4th quarter worth $507,000.

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.