GE Vernova (NYSE:GEV) Shares Gap Down – Time to Sell?

GE Vernova Inc. (NYSE:GEV) shares gapped down prior to trading on Monday . The stock had previously closed at $420.49, but opened at $339.60. GE Vernova shares last traded at $341.49, with a volume of 4,488,771 shares traded.

Analysts Set New Price Targets

Several brokerages recently issued reports on GEV. Deutsche Bank Aktiengesellschaft began coverage on shares of GE Vernova in a report on Monday, October 21st. They set a “buy” rating and a $354.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday. Wolfe Research assumed coverage on GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $376.00 target price on shares of GE Vernova in a report on Wednesday, December 11th. Finally, BMO Capital Markets raised their price target on shares of GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $339.73.

GE Vernova Stock Down 19.4 %

The company has a market capitalization of $93.44 billion and a price-to-earnings ratio of 60.56. The business’s 50-day moving average is $353.38 and its 200-day moving average is $273.64.

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 company had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts expect that GE Vernova Inc. will post 6.61 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

GE Vernova announced that its Board of Directors has initiated 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 shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On GE Vernova

A number of institutional investors have recently modified their holdings of the business. Cedar Mountain Advisors LLC grew its holdings in GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares during the period. Castleview Partners LLC purchased a new stake in GE Vernova in the 3rd quarter worth $28,000. Riggs Asset Managment Co. Inc. raised its position in 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 acquiring an additional 57 shares during the period. Covestor Ltd lifted its holdings in GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new stake in shares of GE Vernova in the third quarter valued at about $31,000.

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.