GE Vernova (NYSE:GEV) Shares Down 1.9% – What’s Next?

Shares of GE Vernova Inc. (NYSE:GEV) fell 1.9% during trading on Tuesday . The company traded as low as $372.08 and last traded at $377.83. 663,157 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 3,848,879 shares. The stock had previously closed at $385.00.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GEV. Guggenheim lowered GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a research note on Friday, January 24th. William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Evercore ISI increased their price objective on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. The Goldman Sachs Group increased their price objective on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Finally, BMO Capital Markets raised their price target on GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Eight research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $346.22.

GE Vernova Stock Performance

The stock has a fifty day moving average of $359.53 and a 200-day moving average of $288.77. The company has a market cap of $103.10 billion and a PE ratio of 67.15.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a dividend of $0.25 per share. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.27%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

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

Hedge Funds Weigh In On GE Vernova

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mountaineer Partners Management LLC purchased a new position in shares of GE Vernova in the 3rd quarter worth approximately $2,507,296,000. International Assets Investment Management LLC boosted its stake in GE Vernova by 35,238.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock worth $366,098,000 after purchasing an additional 1,431,729 shares in the last quarter. WCM Investment Management LLC grew its position in GE Vernova by 83.1% during the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after purchasing an additional 1,161,901 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of GE Vernova in the fourth quarter worth $219,187,000. Finally, FMR LLC increased its holdings in shares of GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after purchasing an additional 584,208 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.