State of Alaska Department of Revenue Acquires 910 Shares of GE Vernova Inc. (NYSE:GEV)

State of Alaska Department of Revenue lifted its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,340 shares of the company's stock after acquiring an additional 910 shares during the quarter. State of Alaska Department of Revenue's holdings in GE Vernova were worth $9,872,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of GEV. Norges Bank acquired a new position in shares of GE Vernova during the 4th quarter worth approximately $1,109,720,000. Capital International Investors grew its stake in shares of GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after buying an additional 2,994,660 shares in the last quarter. GAMMA Investing LLC increased its holdings in GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after buying an additional 2,135,066 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in GE Vernova by 1,638.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock worth $432,309,000 after buying an additional 1,238,690 shares during the last quarter. Finally, FMR LLC raised its position in GE Vernova by 3.4% during the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after acquiring an additional 814,155 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have recently commented on GEV. Barclays lifted their price objective on shares of GE Vernova from $500.00 to $550.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Citigroup dropped their price objective on GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. CICC Research began coverage on GE Vernova in a research note on Wednesday, February 19th. They set an "outperform" rating for the company. Truist Financial set a $440.00 price target on GE Vernova in a research note on Thursday, March 27th. Finally, Bank of America increased their price objective on shares of GE Vernova from $520.00 to $550.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Eight analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $404.56.

GE Vernova Stock Up 0.3%

Shares of GEV traded up $1.46 during trading hours on Thursday, hitting $490.12. 2,239,101 shares of the company were exchanged, compared to its average volume of 3,269,642. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $500.72. The company has a market cap of $133.77 billion, a price-to-earnings ratio of 70.62, a P/E/G ratio of 3.79 and a beta of 1.97. The firm's fifty day moving average is $418.66 and its 200 day moving average is $368.60.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The business had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the prior year, the business posted ($0.47) earnings per share. GE Vernova's revenue was up 10.6% compared to the same quarter last year. Analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.20%. GE Vernova's dividend 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.