GE Vernova (NYSE:GEV) Shares Down 3.1% After Analyst Downgrade

GE Vernova Inc. (NYSE:GEV) shares fell 3.1% during mid-day trading on Monday after BMO Capital Markets lowered their price target on the stock from $471.00 to $420.00. BMO Capital Markets currently has an outperform rating on the stock. GE Vernova traded as low as $321.27 and last traded at $324.91. 912,102 shares were traded during mid-day trading, a decline of 76% from the average session volume of 3,871,486 shares. The stock had previously closed at $335.18.

GEV has been the topic of a number of other reports. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $453.00 target price on shares of GE Vernova in a research report on Tuesday, January 28th. Wells Fargo & Company boosted their price target on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Barclays dropped their price objective on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a report on Monday. Eight research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and an average target price of $347.83.

Institutional Investors Weigh In On GE Vernova

Several institutional investors have recently bought and sold shares of GEV. Howard Capital Management Group LLC bought a new stake in GE Vernova during the third quarter worth $213,000. Stephens Inc. AR boosted its holdings in shares of GE Vernova by 5.4% in the 3rd quarter. Stephens Inc. AR now owns 7,650 shares of the company’s stock worth $1,951,000 after buying an additional 389 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of GE Vernova by 16.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 38,389 shares of the company’s stock valued at $9,789,000 after acquiring an additional 5,472 shares during the period. Harbor Capital Advisors Inc. increased its position in GE Vernova by 40.4% in the third quarter. Harbor Capital Advisors Inc. now owns 7,402 shares of the company’s stock worth $1,887,000 after buying an additional 2,131 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of GE Vernova by 3.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 76,832 shares of the company’s stock worth $19,591,000 after acquiring an additional 2,377 shares during the period.

GE Vernova Trading Down 6.0 %

The firm has a fifty day moving average of $363.25 and a two-hundred day moving average of $307.25. The company has a market cap of $86.96 billion and a PE ratio of 56.69.

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

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.32%. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

GE Vernova declared that its Board of Directors has approved a stock buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.