GE Vernova (NYSE:GEV) Stock Price Down 1.8% - Should You Sell?

GE Vernova Inc. (NYSE:GEV - Get Free Report)'s share price was down 1.8% on Friday . The company traded as low as $357.00 and last traded at $363.50. Approximately 738,490 shares were traded during trading, a decline of 80% from the average daily volume of 3,684,690 shares. The stock had previously closed at $370.31.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Guggenheim cut 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. Wolfe Research began coverage on GE Vernova in a research note on Wednesday, December 4th. They set an "outperform" rating and a $403.00 price target for the company. Barclays raised their price objective on GE Vernova from $420.00 to $487.00 and gave the company an "overweight" rating in a research note on Thursday, January 23rd. BMO Capital Markets upped their target price on GE Vernova from $360.00 to $420.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 21st. Finally, Robert W. Baird began coverage on GE Vernova in a report on Thursday, February 13th. They set an "outperform" rating and a $448.00 price target on the stock. Eight analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $350.13.

GE Vernova Stock Up 0.4 %

The stock has a market cap of $103.43 billion and a price-to-earnings ratio of 67.42. The company's 50-day moving average is $363.90 and its 200-day moving average is $297.73.

GE Vernova (NYSE:GEV - Get Free Report) last issued its 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 company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova's revenue was up 5.1% on a year-over-year basis. On average, research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

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

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

Hedge Funds Weigh In On GE Vernova

Several institutional investors have recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC raised its stake in shares of GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock valued at $25,000 after acquiring an additional 39 shares during the last quarter. MRP Capital Investments LLC acquired a new stake in shares of GE Vernova in the fourth quarter valued at $25,000. Fairway Wealth LLC raised its holdings in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after buying an additional 55 shares during the last quarter. Pineridge Advisors LLC lifted its position in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after buying an additional 69 shares in the last quarter. Finally, Navigoe LLC bought a new stake in GE Vernova during the 4th quarter worth about $27,000.

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.