GE Vernova (NYSE:GEV) Trading Down 2.2% - Should You Sell?

Shares of GE Vernova Inc. (NYSE:GEV - Get Free Report) were down 2.2% during mid-day trading on Monday . The company traded as low as $348.95 and last traded at $364.75. Approximately 1,675,865 shares changed hands during trading, a decline of 60% from the average daily volume of 4,200,525 shares. The stock had previously closed at $372.88.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GEV. Evercore ISI increased their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Bank of America upped their price target on GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. The Goldman Sachs Group boosted their target price on GE Vernova from $446.00 to $500.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Truist Financial raised their price target on GE Vernova from $420.00 to $470.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Finally, Barclays raised their target price on shares of GE Vernova from $420.00 to $487.00 and gave the company an "overweight" rating in a report on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $342.94.

GE Vernova Trading Up 3.1 %

The stock's 50 day moving average price is $356.29 and its 200 day moving average price is $282.82. The firm has a market cap of $101.28 billion and a PE ratio of 66.08.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm 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 firm's revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts forecast that GE Vernova Inc. will post 6.33 earnings per share for the current year.

GE Vernova Dividend Announcement

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. This represents a $1.00 annualized dividend and a yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova's dividend payout ratio is currently 17.99%.

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

Institutional Trading of GE Vernova

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cedar Mountain Advisors LLC lifted its stake in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock worth $25,000 after purchasing an additional 39 shares during the last quarter. Pineridge Advisors LLC raised its stake in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after acquiring an additional 69 shares during the period. Asset Planning Inc bought a new position in GE Vernova in the fourth quarter worth about $35,000. Castleview Partners LLC bought a new position in shares of GE Vernova during the third quarter valued at approximately $28,000. Finally, Riggs Asset Managment Co. Inc. raised its position in shares of GE Vernova by 93.4% during the 4th quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company's stock worth $39,000 after purchasing an additional 57 shares during the period.

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.