GE Vernova (NYSE:GEV) Shares Down 0.8% - Here's Why

GE Vernova Inc. (NYSE:GEV - Get Free Report) traded down 0.8% during mid-day trading on Wednesday . The stock traded as low as $366.25 and last traded at $370.28. 349,453 shares were traded during mid-day trading, a decline of 90% from the average session volume of 3,588,418 shares. The stock had previously closed at $373.25.

Wall Street Analyst Weigh In

GEV has been the topic of several recent analyst reports. Bank of America lifted their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Wells Fargo & Company lifted their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th. BMO Capital Markets lifted their price objective on shares of GE Vernova from $360.00 to $420.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 21st. Robert W. Baird initiated coverage on shares of GE Vernova in a research note on Thursday, February 13th. They set an "outperform" rating and a $448.00 price objective on the stock. Finally, William Blair reissued an "outperform" rating on shares of GE Vernova in a research note on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $350.13.

GE Vernova Stock Down 8.9 %

The company has a market capitalization of $90.41 billion and a price-to-earnings ratio of 58.93. The stock's fifty day moving average price is $364.41 and its 200-day moving average price is $299.31.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data 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 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% compared to the same quarter last year. Analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors 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 yield of 0.31%. GE Vernova's payout ratio is 17.99%.

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

Hedge Funds Weigh In On GE Vernova

Institutional investors have recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC increased its holdings 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 buying an additional 39 shares during the last quarter. MRP Capital Investments LLC acquired a new position in GE Vernova during the fourth quarter worth $25,000. Fairway Wealth LLC increased its holdings in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after buying an additional 55 shares during the last quarter. Pineridge Advisors LLC increased its holdings 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 buying an additional 69 shares during the last quarter. Finally, Navigoe LLC bought a new position in GE Vernova during the fourth quarter worth $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.