Arizona State Retirement System Has $24.70 Million Holdings in GE Vernova Inc. (NYSE:GEV)

Arizona State Retirement System grew its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 2.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 80,896 shares of the company's stock after purchasing an additional 1,653 shares during the period. Arizona State Retirement System's holdings in GE Vernova were worth $24,696,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GEV. MRP Capital Investments LLC acquired a new position in shares of GE Vernova during the 4th quarter worth approximately $25,000. Navigoe LLC acquired a new position in shares of GE Vernova during the 4th quarter worth approximately $27,000. EQ Wealth Advisors LLC acquired a new position in shares of GE Vernova during the 1st quarter worth approximately $27,000. Clarity Asset Management Inc. acquired a new position in shares of GE Vernova during the 4th quarter worth approximately $28,000. Finally, Pinpoint Asset Management Ltd acquired a new stake in shares of GE Vernova during the 4th quarter worth approximately $30,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada decreased their price objective on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 18th. Wall Street Zen raised shares of GE Vernova from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. TD Cowen decreased their price objective on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. UBS Group assumed coverage on shares of GE Vernova in a research note on Monday, July 7th. They issued a "buy" rating and a $614.00 price objective on the stock. Finally, Barclays lifted their price objective on shares of GE Vernova from $550.00 to $580.00 and gave the company an "overweight" rating in a research note on Wednesday. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $451.38.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $538.95 on Friday. The firm has a market cap of $147.10 billion, a PE ratio of 77.66, a price-to-earnings-growth ratio of 4.15 and a beta of 1.86. The firm's fifty day moving average is $476.87 and its 200-day moving average is $389.85. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $546.65.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. GE Vernova's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.47) earnings per share. Sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.19%. GE Vernova's payout ratio is 14.41%.

GE Vernova 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.

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