New York State Teachers Retirement System decreased its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 231,006 shares of the company's stock after selling 11,122 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of GE Vernova worth $70,522,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Amalgamated Bank boosted its position in shares of GE Vernova by 1.2% during the 1st quarter. Amalgamated Bank now owns 54,319 shares of the company's stock valued at $16,583,000 after acquiring an additional 652 shares during the last quarter. Mmbg Investment Advisors CO. acquired a new position in shares of GE Vernova during the 1st quarter valued at about $266,000. Avidian Wealth Enterprises LLC boosted its position in shares of GE Vernova by 23.5% during the 1st quarter. Avidian Wealth Enterprises LLC now owns 767 shares of the company's stock valued at $234,000 after acquiring an additional 146 shares during the last quarter. Stonebridge Financial Group LLC boosted its position in shares of GE Vernova by 8.9% during the 1st quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock valued at $105,000 after acquiring an additional 28 shares during the last quarter. Finally, Joel Isaacson & Co. LLC boosted its position in shares of GE Vernova by 23.1% during the 1st quarter. Joel Isaacson & Co. LLC now owns 1,971 shares of the company's stock valued at $602,000 after acquiring an additional 370 shares during the last quarter.
GE Vernova Stock Performance
GEV stock opened at $520.56 on Monday. The company's 50 day moving average price is $443.89 and its 200 day moving average price is $377.07. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $532.59. The firm has a market capitalization of $142.08 billion, a price-to-earnings ratio of 75.01, a PEG ratio of 4.03 and a beta of 1.97.
GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The firm had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the prior year, the firm earned ($0.47) earnings per share. The business's quarterly revenue was up 10.6% compared to the same quarter last year. Equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.
GE Vernova Dividend Announcement
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 paid a dividend of $0.25 per share. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.19%. GE Vernova's payout ratio is 14.41%.
Wall Street Analyst Weigh In
A number of research analysts have commented on GEV shares. BMO Capital Markets upped their target price on shares of GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. New Street Research set a $380.00 target price on shares of GE Vernova in a research report on Wednesday, March 5th. TD Cowen decreased their target price on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Robert W. Baird upped their target price on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, Wolfe Research cut shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Eight analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $429.13.
Read Our Latest Analysis on GEV
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.
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