Public Employees Retirement System of Ohio Reduces Stock Position in GE Vernova Inc. (NYSE:GEV)

Public Employees Retirement System of Ohio lessened its position in GE Vernova Inc. (NYSE:GEV) by 2.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 122,564 shares of the company’s stock after selling 3,467 shares during the period. Public Employees Retirement System of Ohio’s holdings in GE Vernova were worth $40,315,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GEV. Cedar Mountain Advisors LLC grew its stake in shares of GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares during the last quarter. MRP Capital Investments LLC bought a new position in GE Vernova during the 4th quarter valued at approximately $25,000. Fairway Wealth LLC lifted its holdings in GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after buying an additional 55 shares during the period. Pineridge Advisors LLC grew its position in shares of GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares during the last quarter. Finally, Navigoe LLC purchased a new position in shares of GE Vernova during the fourth quarter valued at approximately $27,000.

Analyst Ratings Changes

A number of brokerages recently commented on GEV. BMO Capital Markets decreased their target price on GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Susquehanna restated a “positive” rating and issued a $499.00 price objective (up from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. Morgan Stanley reaffirmed an “overweight” rating and set a $422.00 target price (up previously from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. The Goldman Sachs Group increased their price target on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Finally, Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $374.62.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $465.36 on Friday. The business has a fifty day moving average price of $358.25 and a 200-day moving average price of $350.55. The company has a market capitalization of $127.01 billion and a PE ratio of 83.70. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $469.81.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.54. The business had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business earned ($0.47) EPS. On average, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova’s dividend payout ratio (DPR) is currently 14.41%.

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.