GE Vernova (NYSE:GEV) Shares Down 0.8% - Time to Sell?

GE Vernova Inc. (NYSE:GEV - Get Free Report) was down 0.8% on Monday . The stock traded as low as $357.00 and last traded at $367.43. Approximately 2,238,001 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 4,236,943 shares. The stock had previously closed at $370.31.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GEV shares. Robert W. Baird started coverage on GE Vernova in a research report on Thursday, February 13th. They issued an "outperform" rating and a $448.00 price target for the company. JPMorgan Chase & Co. lifted their price target on GE Vernova from $374.00 to $436.00 and gave the company an "overweight" rating in a research report on Thursday, January 23rd. Truist Financial boosted their target price on GE Vernova from $420.00 to $470.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. William Blair restated an "outperform" rating on shares of GE Vernova in a research report on Thursday, January 23rd. Finally, Bank of America boosted their target price on GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and an average price target of $350.13.

GE Vernova Stock Performance

The business has a 50-day simple moving average of $364.50 and a 200 day simple moving average of $298.16. The firm has a market cap of $99.21 billion and a P/E ratio of 64.67.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 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 net margin of 4.44% and a return on equity of 6.70%. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. On average, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova's payout ratio is 17.99%.

GE Vernova declared that its board has authorized a share repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp grew its holdings in shares of GE Vernova by 5.1% during the 4th quarter. Mackenzie Financial Corp now owns 24,808 shares of the company's stock worth $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 during the 4th quarter worth approximately $329,000. Toronto Dominion Bank grew its holdings in shares of GE Vernova by 8.6% during the 4th quarter. Toronto Dominion Bank now owns 147,639 shares of the company's stock worth $48,563,000 after acquiring an additional 11,701 shares during the period. Retirement Planning Group LLC NY purchased a new position in shares of GE Vernova during the 4th quarter worth approximately $507,000. Finally, Pinney & Scofield Inc. purchased a new position in shares of GE Vernova during the 4th quarter worth approximately $71,000.

GE Vernova Company Profile

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.