GE Vernova (NYSE:GEV) Stock Price Down 1.3% – Should You Sell?

Shares of GE Vernova Inc. (NYSE:GEV) fell 1.3% on Tuesday . The stock traded as low as $317.70 and last traded at $325.85. 4,193,616 shares traded hands during trading, an increase of 10% from the average session volume of 3,803,373 shares. The stock had previously closed at $330.00.

Analyst Ratings Changes

Several research firms recently issued reports on GEV. Royal Bank of Canada restated an “outperform” rating and set a $453.00 price objective on shares of GE Vernova in a research report on Tuesday. Barclays upped their price objective on GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Jefferies Financial Group lifted their target price on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. TD Cowen initiated coverage on GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target for the company. Finally, Truist Financial boosted their price objective on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $342.94.

GE Vernova Stock Performance

The stock’s 50-day simple moving average is $353.99 and its 200 day simple moving average is $276.49. The company has a market capitalization of $105.50 billion and a PE ratio of 68.84.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The firm had revenue of $10.56 billion for 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%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, analysts expect that GE Vernova Inc. will post 6.61 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

GE Vernova announced that its Board of Directors has authorized a stock repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On GE Vernova

Several large investors have recently bought and sold shares of GEV. Cedar Mountain Advisors LLC boosted its stake in GE Vernova by 102.6% during the 4th 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 period. Pineridge Advisors LLC raised its holdings in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after buying an additional 69 shares during the last quarter. Asset Planning Inc acquired a new stake in shares of GE Vernova during the fourth quarter worth about $35,000. Castleview Partners LLC purchased a new position in shares of GE Vernova during the third quarter worth about $28,000. Finally, Riggs Asset Managment Co. Inc. grew its holdings in shares of GE Vernova by 93.4% during the fourth quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock worth $39,000 after buying an additional 57 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.