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Public Sector Pension Investment Board Has $11.49 Million Stock Holdings in GE Vernova Inc. (NYSE:GEV)

GE Vernova logo with Energy background

Key Points

  • The Public Sector Pension Investment Board increased its stake in GE Vernova Inc. (NYSE:GEV) by 8.5%, acquiring a total of 37,620 shares valued at approximately $11.48 million.
  • Multiple investment firms have raised their price targets for GE Vernova, with JPMorgan Chase increasing its target from $620.00 to $715.00 and Goldman Sachs from $500.00 to $570.00.
  • GE Vernova reported a quarterly earnings per share of $1.86, exceeding analysts' estimates of $1.63, with revenue rising 11.1% year-over-year to $9.11 billion.
  • Want stock alerts on GE Vernova? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Public Sector Pension Investment Board increased its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 8.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,620 shares of the company's stock after buying an additional 2,942 shares during the period. Public Sector Pension Investment Board's holdings in GE Vernova were worth $11,485,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GEV. Lockheed Martin Investment Management Co. purchased a new position in GE Vernova in the first quarter worth about $458,000. Golden State Wealth Management LLC raised its stake in shares of GE Vernova by 201.7% during the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock valued at $373,000 after acquiring an additional 817 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in GE Vernova by 79.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock valued at $67,622,000 after buying an additional 98,034 shares during the period. Grandview Asset Management LLC increased its holdings in GE Vernova by 48.8% during the first quarter. Grandview Asset Management LLC now owns 2,149 shares of the company's stock valued at $656,000 after buying an additional 705 shares during the period. Finally, Oppenheimer Asset Management Inc. purchased a new position in GE Vernova during the first quarter valued at approximately $328,000.

Analyst Ratings Changes

GEV has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. The Goldman Sachs Group increased their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Wolfe Research cut shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Bank of America increased their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Finally, TD Cowen raised their price objective on shares of GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a report on Friday, July 25th. Ten analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $560.21.

Check Out Our Latest Analysis on GEV

GE Vernova Stock Performance

Shares of NYSE:GEV traded down $4.07 during trading hours on Friday, hitting $621.20. 2,468,865 shares of the company's stock traded hands, compared to its average volume of 3,580,634. GE Vernova Inc. has a 52 week low of $173.07 and a 52 week high of $677.29. The company's fifty day simple moving average is $560.87 and its two-hundred day simple moving average is $431.14. The company has a market cap of $169.10 billion, a price-to-earnings ratio of 149.69, a price-to-earnings-growth ratio of 4.38 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the company posted $4.65 earnings per share. On average, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is currently 24.10%.

About GE Vernova

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for GE Vernova (NYSE:GEV)

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