State of New Jersey Common Pension Fund D Has $59.13 Million Stock Holdings in GE Vernova Inc. $GEV

State of New Jersey Common Pension Fund D increased its position in shares of GE Vernova Inc. (NYSE:GEV) by 3.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,165 shares of the company’s stock after acquiring an additional 3,275 shares during the period. State of New Jersey Common Pension Fund D’s holdings in GE Vernova were worth $59,132,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GEV. Pelham Capital Ltd. increased its position in GE Vernova by 33.8% in the 3rd quarter. Pelham Capital Ltd. now owns 8,781 shares of the company’s stock worth $5,399,000 after purchasing an additional 2,218 shares during the last quarter. Main Street Group LTD grew its stake in shares of GE Vernova by 14.0% in the 3rd quarter. Main Street Group LTD now owns 171 shares of the company’s stock valued at $105,000 after buying an additional 21 shares in the last quarter. Calton & Associates Inc. increased its holdings in GE Vernova by 29.8% in the third quarter. Calton & Associates Inc. now owns 985 shares of the company’s stock worth $606,000 after buying an additional 226 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in GE Vernova by 67.2% in the third quarter. PNC Financial Services Group Inc. now owns 327,044 shares of the company’s stock worth $201,099,000 after buying an additional 131,501 shares during the last quarter. Finally, Riverstone Advisors LLC bought a new position in GE Vernova during the third quarter valued at approximately $213,000.

GE Vernova Stock Performance

NYSE GEV opened at $801.76 on Friday. The stock has a 50-day simple moving average of $689.84 and a 200 day simple moving average of $635.51. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $846.00. The stock has a market capitalization of $216.10 billion, a PE ratio of 45.04, a P/E/G ratio of 3.19 and a beta of 1.67.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, topping the consensus estimate of $2.99 by $10.40. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The company had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $10.21 billion. During the same period in the previous year, the business posted $1.73 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, January 5th were issued a $0.50 dividend. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s payout ratio is currently 11.24%.

Wall Street Analyst Weigh In

GEV has been the subject of several recent research reports. Evercore boosted their target price on shares of GE Vernova from $860.00 to $905.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Glj Research raised their target price on GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a report on Monday, January 12th. Weiss Ratings upgraded GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, February 5th. Barclays reissued an “overweight” rating and set a $849.00 price objective on shares of GE Vernova in a report on Monday, February 2nd. Finally, Bank of America boosted their target price on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $788.24.

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.