New York State Teachers Retirement System Purchases 13,622 Shares of GE Vernova Inc. $GEV

New York State Teachers Retirement System increased its position in shares of GE Vernova Inc. (NYSE:GEV) by 5.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 244,628 shares of the company’s stock after purchasing an additional 13,622 shares during the period. New York State Teachers Retirement System’s holdings in GE Vernova were worth $129,445,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in GE Vernova during the first quarter valued at $912,000. Pines Wealth Management LLC bought a new stake in shares of GE Vernova in the 2nd quarter worth about $408,000. Resona Asset Management Co. Ltd. lifted its holdings in shares of 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 acquiring an additional 6,551 shares during the last quarter. Lockheed Martin Investment Management Co. bought a new stake in shares of GE Vernova in the 1st quarter worth about $458,000. Finally, Golden State Wealth Management LLC lifted its holdings in GE Vernova by 201.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company’s stock valued at $373,000 after buying an additional 817 shares in the last quarter.

GE Vernova Stock Down 4.1%

Shares of NYSE GEV opened at $617.78 on Thursday. The firm has a 50-day simple moving average of $618.29 and a 200-day simple moving average of $515.27. The stock has a market capitalization of $168.17 billion, a price-to-earnings ratio of 148.86, a price-to-earnings-growth ratio of 4.67 and a beta of 1.72. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.78 billion. During the same period in the prior year, the business earned $4.65 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

Insider Activity

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the sale, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GEV shares. Susquehanna lifted their price objective on shares of GE Vernova from $736.00 to $740.00 and gave the company a “positive” rating in a report on Monday. Melius upgraded shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective for the company in a research note on Monday, September 15th. Mizuho boosted their target price on shares of GE Vernova from $670.00 to $677.00 and gave the stock a “neutral” rating in a research report on Wednesday. Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Finally, Wall Street Zen downgraded shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $592.07.

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.