GE Vernova Inc. $GEV Position Reduced by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in GE Vernova Inc. by 1.5%, holding 92,890 shares worth approximately $49 million after the sale.
• GE Vernova reported earnings of $1.64 per share in its latest quarterly results, missing analysts' expectations, despite a revenue increase of 11.8% year-over-year.
• The company announced a quarterly dividend of $0.25, to be paid to investors on record, representing an annualized yield of 0.2% with a payout ratio of 24.10%.

State of New Jersey Common Pension Fund D decreased its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 1.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,890 shares of the company's stock after selling 1,368 shares during the period. State of New Jersey Common Pension Fund D's holdings in GE Vernova were worth $49,153,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Peterson Wealth Services raised its holdings in GE Vernova by 31,533.3% during the second quarter. Peterson Wealth Services now owns 949 shares of the company's stock worth $502,000 after purchasing an additional 946 shares in the last quarter. Sage Mountain Advisors LLC raised its holdings in GE Vernova by 16.6% during the second quarter. Sage Mountain Advisors LLC now owns 1,922 shares of the company's stock worth $1,017,000 after purchasing an additional 273 shares in the last quarter. Washington Trust Advisors Inc. raised its holdings in GE Vernova by 9.6% during the second quarter. Washington Trust Advisors Inc. now owns 2,442 shares of the company's stock worth $1,292,000 after purchasing an additional 214 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of GE Vernova by 0.6% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 677,437 shares of the company's stock valued at $358,466,000 after buying an additional 3,980 shares in the last quarter. Finally, West Michigan Advisors LLC increased its holdings in shares of GE Vernova by 95.6% in the second quarter. West Michigan Advisors LLC now owns 1,592 shares of the company's stock valued at $842,000 after buying an additional 778 shares in the last quarter.

GE Vernova Stock Down 1.8%

Shares of NYSE:GEV opened at $584.68 on Friday. The company's fifty day moving average is $611.31 and its two-hundred day moving average is $529.36. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29. The company has a market cap of $158.64 billion, a P/E ratio of 95.23, a price-to-earnings-growth ratio of 4.30 and a beta of 1.72.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.72 by ($0.08). The business had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The company's revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be issued a $0.25 dividend. The ex-dividend date is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's dividend payout ratio is currently 24.10%.

Insider Transactions at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the sale, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on GEV. Wells Fargo & Company upped their price target on GE Vernova from $697.00 to $717.00 and gave the company an "overweight" rating in a report on Friday. Mizuho dropped their price target on GE Vernova from $677.00 to $660.00 and set a "neutral" rating on the stock in a report on Friday. Susquehanna upped their price target on GE Vernova from $740.00 to $750.00 and gave the company a "positive" rating in a report on Thursday. Bank of America upped their price target on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Melius raised GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 price target on the stock in a report on Monday, September 15th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $607.59.

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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