GE Vernova (NYSE:GEV) Stock Price Down 4.5% – Should You Sell?

GE Vernova Inc. (NYSE:GEV)’s share price dropped 4.5% during mid-day trading on Monday . The company traded as low as $1,038.89 and last traded at $1,042.6490. 2,152,693 shares were traded during trading, a decline of 23% from the average daily volume of 2,792,564 shares. The stock had previously closed at $1,091.57.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Zacks Research cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. BMO Capital Markets boosted their target price on GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Guggenheim boosted their target price on GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. The Goldman Sachs Group reissued a “buy” rating and issued a $1,328.00 price target on shares of GE Vernova in a report on Friday, April 24th. Finally, Susquehanna set a $1,300.00 price target on GE Vernova in a report on Thursday, April 23rd. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $1,089.88.

GE Vernova Price Performance

The stock has a market cap of $286.77 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 3.85 and a beta of 1.09. The company’s 50 day moving average is $1,038.73 and its 200 day moving average is $902.48. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. Research analysts forecast that GE Vernova Inc. will post 15.06 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th were issued a $0.50 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is currently 5.83%.

Insider Buying and Selling

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the transaction, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This trade represents a 39.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the transaction, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Auto Owners Insurance Co increased its holdings in GE Vernova by 110,973.4% during the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after acquiring an additional 34,826,773 shares in the last quarter. Vanguard Group Inc. grew its position in shares of GE Vernova by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock valued at $16,354,691,000 after purchasing an additional 208,162 shares during the last quarter. State Street Corp grew its position in shares of GE Vernova by 2.1% in the fourth quarter. State Street Corp now owns 11,469,670 shares of the company’s stock valued at $7,496,232,000 after purchasing an additional 231,392 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of GE Vernova by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock worth $4,074,039,000 after purchasing an additional 68,894 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of GE Vernova by 12.8% during the 4th quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock worth $3,957,024,000 after purchasing an additional 685,466 shares in the last quarter.

About GE Vernova

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.