Maryland State Retirement & Pension System Sells 1,961 Shares of GE Vernova Inc. (NYSE:GEV)

Key Points

• The Maryland State Retirement & Pension System reduced its stake in GE Vernova Inc. by 13.3%, now holding 12,739 shares worth approximately $3.89 million.
• GE Vernova reported a quarterly EPS of $1.86, surpassing analysts' expectations, alongside a revenue increase of 11.1% year-over-year.
• The company's quarterly dividend of $0.25 is set to be paid on August 18th, representing a modest annual yield of 0.2% and a payout ratio of 24.10%.

Maryland State Retirement & Pension System trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 13.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,739 shares of the company's stock after selling 1,961 shares during the quarter. Maryland State Retirement & Pension System's holdings in GE Vernova were worth $3,889,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Navigoe LLC bought a new position in GE Vernova in the 4th quarter valued at about $27,000. Clarity Asset Management Inc. bought a new position in GE Vernova in the 4th quarter valued at about $28,000. IMA Advisory Services Inc. bought a new position in GE Vernova in the 1st quarter valued at about $27,000. Orion Capital Management LLC bought a new stake in shares of GE Vernova during the 4th quarter valued at approximately $30,000. Finally, EQ Wealth Advisors LLC bought a new stake in shares of GE Vernova during the 1st quarter valued at approximately $27,000.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GEV shares. Glj Research started coverage on shares of GE Vernova in a report on Monday, June 23rd. They set a "buy" rating on the stock. UBS Group started coverage on shares of GE Vernova in a report on Monday, July 7th. They set a "buy" rating and a $614.00 price target on the stock. Wall Street Zen lowered shares of GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Robert W. Baird lifted their price target on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Finally, Susquehanna lifted their price target on shares of GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $560.21.

GE Vernova Stock Up 0.5%

GEV stock traded up $3.08 during midday trading on Friday, reaching $648.94. 1,887,386 shares of the company's stock traded hands, compared to its average volume of 2,893,177. The company has a market cap of $176.65 billion, a price-to-earnings ratio of 156.37, a P/E/G ratio of 4.46 and a beta of 1.90. The firm's fifty day moving average price is $548.53 and its 200-day moving average price is $424.55. GE Vernova Inc. has a 52 week low of $172.60 and a 52 week high of $677.29.

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

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Monday, July 21st. GE Vernova's payout ratio is 24.10%.

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.