GE Vernova (NYSE:GEV) Shares Down 1.6% After Earnings Miss

GE Vernova Inc. (NYSE:GEV)’s share price dropped 1.6% during trading on Wednesday following a dissappointing earnings announcement. The company traded as low as $532.72 and last traded at $575.73. Approximately 10,296,648 shares traded hands during mid-day trading, an increase of 201% from the average daily volume of 3,424,323 shares. The stock had previously closed at $585.33.

The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same period in the prior year, the firm posted ($0.35) EPS. GE Vernova’s revenue was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s payout ratio is currently 24.10%.

Wall Street Analyst Weigh In

A number of research firms have commented on GEV. Royal Bank Of Canada set a $605.00 target price on shares of GE Vernova and gave the stock a “sector perform” rating in a report on Wednesday, October 1st. Rothschild & Co Redburn reaffirmed a “sell” rating and set a $475.00 target price on shares of GE Vernova in a report on Wednesday, October 15th. Morgan Stanley lifted their target price on shares of GE Vernova from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Redburn Partners set a $475.00 target price on shares of GE Vernova in a report on Wednesday, October 15th. Finally, Barclays boosted their price target on shares of GE Vernova from $580.00 to $706.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $601.44.

Insiders Place Their Bets

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On GE Vernova

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new position in GE Vernova in the 1st quarter worth $912,000. Pines Wealth Management LLC acquired a new position in GE Vernova in the 2nd quarter worth $408,000. Resona Asset Management Co. Ltd. boosted its stake in GE Vernova by 8.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock worth $26,229,000 after purchasing an additional 6,551 shares during the period. Dupree Financial Group LLC acquired a new position in GE Vernova in the 2nd quarter worth $253,000. Finally, Lockheed Martin Investment Management Co. bought a new stake in GE Vernova during the 1st quarter worth about $458,000.

GE Vernova Stock Performance

The firm’s 50-day simple moving average is $612.65 and its 200 day simple moving average is $525.17. The stock has a market capitalization of $156.72 billion, a P/E ratio of 138.73, a PEG ratio of 4.24 and a beta of 1.72.

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.