Shares of GE Vernova Inc. (NYSE: GEV) experienced a decline of 1.8% during mid-day trading on Friday following a downgrade from financial services firm Mizuho. The firm reduced its price target on the stock from $677.00 to $660.00 and maintains a neutral rating on the stock. GE Vernova’s shares traded as low as $584.18 before closing at $584.68. During this trading session, a total of 3,622,367 shares changed hands, marking a 6% increase from the average session volume of 3,427,969 shares. The stock had previously closed at $595.15.
Several other brokerages also recently provided updates on GE Vernova’s stock. On Thursday, UBS Group set a price target of $710.00. Additionally, Seaport Res Ptn upgraded its rating on GE Vernova to “strong-buy” on July 10. Meanwhile, JPMorgan Chase & Co. raised its price objective from $715.00 to $740.00 and assigned an “overweight” rating. Melius upgraded GE Vernova from a “hold” to a “buy” rating, setting a target price of $740.00 in a report on September 15. In contrast, Redburn Partners set a lower price target of $475.00 on October 15.
Research analytics reveal that four analysts currently rate the stock as a strong buy, while nineteen have issued a buy rating. Eight have assigned a hold rating, and two have given it a sell rating. According to data from MarketBeat.com, GE Vernova holds an average rating of “Moderate Buy” with an average target price of $607.59.
Institutional Trading Activity
Recent movements among institutional investors have also impacted GE Vernova’s stock. Vanguard Group Inc. increased its stake by 1.1% in the second quarter, now owning 24,664,571 shares worth approximately $13.05 billion. Similarly, State Street Corp raised its holdings by 1.9%, bringing its total to 11,097,778 shares valued at around $5.87 billion. Geode Capital Management LLC boosted its investment by 2.2%, acquiring an additional 129,315 shares, which now totals 6,108,484 shares worth about $3.22 billion.
Additionally, Norges Bank acquired a new stake valued at approximately $1.81 billion, while Goldman Sachs Group Inc. grew its holdings by 7.4% in the first quarter, now owning 3,129,958 shares worth around $955.51 million.
Company Performance and Future Outlook
In its most recent earnings report released on October 22, GE Vernova reported earnings per share (EPS) of $1.64, which fell short of the consensus estimate of $1.72 by $0.08. The company recorded a total revenue of $9.97 billion, surpassing analysts’ expectations of $9.15 billion. This represents an 11.8% increase compared to the same quarter last year, where the firm had posted an EPS of ($0.35).
The company has issued guidance for the fiscal year 2025, projecting an EPS of $6.59. In addition, GE Vernova recently announced a quarterly dividend of $0.25 per share, set to be paid on November 17. Stockholders of record on October 20 will receive this dividend, which amounts to an annualized total of $1.00 and a dividend yield of 0.2%.
The current dividend payout ratio for GE Vernova stands at 16.29%.
GE Vernova operates as an energy company, generating electricity through three primary segments: Power, Wind, and Electrification. The Power segment encompasses hydro, gas, nuclear, and steam power generation, while the Wind segment manufactures and sells wind turbine blades. The Electrification segment focuses on grid solutions, power conversion, and solar and storage solutions, positioning the company at the forefront of the energy market.
