Teachers Retirement System of The State of Kentucky Has $23.76 Million Stock Holdings in GE Vernova Inc. $GEV

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 11.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,214 shares of the company’s stock after selling 3,603 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in GE Vernova were worth $23,756,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Brighton Jones LLC boosted its position in GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after acquiring an additional 753 shares during the period. Schnieders Capital Management LLC. grew its stake in GE Vernova by 1.7% during the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after acquiring an additional 26 shares in the last quarter. Jump Financial LLC acquired a new position in shares of GE Vernova in the 2nd quarter valued at about $258,000. Ossiam acquired a new position in shares of GE Vernova in the 2nd quarter valued at about $42,000. Finally, Nebula Research & Development LLC lifted its position in shares of GE Vernova by 23.9% in the second quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock worth $886,000 after purchasing an additional 323 shares in the last quarter.

GE Vernova Trading Down 0.1%

Shares of NYSE:GEV opened at $1,090.64 on Monday. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94. The firm has a fifty day moving average price of $1,040.14 and a 200 day moving average price of $896.97. The stock has a market capitalization of $293.08 billion, a PE ratio of 31.77, a P/E/G ratio of 4.03 and a beta of 1.09. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the prior year, the company posted $0.91 EPS. The firm’s revenue was up 17.0% on a year-over-year basis. Analysts expect that GE Vernova Inc. will post 15.06 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova’s dividend payout ratio is currently 5.83%.

Analyst Upgrades and Downgrades

GEV has been the subject of several research reports. Sanford C. Bernstein initiated coverage on shares of GE Vernova in a report on Tuesday, June 16th. They set an “outperform” rating and a $1,206.00 price target for the company. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,328.00 price objective on shares of GE Vernova in a research note on Friday, April 24th. Jefferies Financial Group cut their target price on shares of GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating for the company in a research report on Thursday, June 11th. TD Cowen lifted their target price on shares of GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,089.88.

Insider Buying and Selling at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the transaction, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the transaction, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by corporate insiders.

GE Vernova Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.