GE Vernova (NYSE:GEV) Shares Gap Down – Should You Sell?

GE Vernova Inc. (NYSE:GEV)’s share price 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

A number of research analysts have commented on GEV shares. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective on the stock. in a research note on Friday, January 24th. The Goldman Sachs Group raised their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Hsbc Global Res lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $453.00 price target on shares of GE Vernova in a research note on Tuesday. Finally, Barclays upped their price objective on GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $342.94.

GE Vernova Stock Performance

The firm has a market capitalization of $97.80 billion and a P/E ratio of 63.81. The business has a fifty day moving average of $353.77 and a 200-day moving average of $275.94.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business 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 revenue was up 5.1% on a year-over-year basis. On average, equities research analysts forecast that GE Vernova Inc. will post 6.61 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a $0.25 dividend. 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 0.28%. GE Vernova’s dividend payout ratio is presently 17.99%.

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

Institutional Investors Weigh In On GE Vernova

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mountaineer Partners Management LLC bought a new position in shares of GE Vernova during the 3rd quarter valued at about $2,507,296,000. International Assets Investment Management LLC lifted its stake in GE Vernova by 35,238.2% during the third quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock valued at $366,098,000 after purchasing an additional 1,431,729 shares during the last quarter. WCM Investment Management LLC boosted its holdings in GE Vernova by 83.1% during the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after buying an additional 1,161,901 shares in the last quarter. FMR LLC boosted its holdings in GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after buying an additional 584,208 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in GE Vernova by 34.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock worth $462,073,000 after buying an additional 460,834 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.