GE Vernova (NYSE:GEV) Trading Down 3.8% – Time to Sell?

Shares of GE Vernova Inc. (NYSE:GEV) dropped 3.8% on Monday . The company traded as low as $574.80 and last traded at $576.94. Approximately 2,133,077 shares traded hands during trading, a decline of 37% from the average daily volume of 3,377,349 shares. The stock had previously closed at $599.77.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Melius Research set a $740.00 price target on GE Vernova and gave the company a “buy” rating in a research report on Monday, September 15th. HSBC upped their target price on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a report on Friday, September 5th. Melius upgraded shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target for the company in a report on Monday, September 15th. Citigroup dropped their price objective on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Finally, Redburn Partners set a $475.00 target price on shares of GE Vernova in a research report on Wednesday, October 15th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $607.81.

GE Vernova Price Performance

The stock has a market capitalization of $163.38 billion, a P/E ratio of 97.98, a PEG ratio of 4.47 and a beta of 1.71. The stock’s fifty day moving average is $590.20 and its 200-day moving average is $572.86.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The company had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.GE Vernova’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.35) EPS. On average, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, October 20th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio is presently 16.29%.

Hedge Funds Weigh In On GE Vernova

A number of institutional investors have recently modified their holdings of the company. Jackson Grant Investment Advisers Inc. raised its holdings in GE Vernova by 344.4% in the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after acquiring an additional 31 shares during the period. Wealth Watch Advisors INC bought a new position in shares of GE Vernova in the third quarter worth about $25,000. Bay Harbor Wealth Management LLC lifted its position in shares of GE Vernova by 537.5% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares during the last quarter. Elevation Wealth Partners LLC boosted its stake in GE Vernova by 47.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after purchasing an additional 17 shares during the period. Finally, Deseret Mutual Benefit Administrators grew its holdings in GE Vernova by 112.0% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock valued at $33,000 after buying an additional 28 shares during the last quarter.

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.