New York State Common Retirement Fund Buys 10,866 Shares of GE Vernova Inc. (NYSE:GEV)

New York State Common Retirement Fund grew its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 3.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 356,147 shares of the company's stock after acquiring an additional 10,866 shares during the period. New York State Common Retirement Fund owned about 0.13% of GE Vernova worth $108,725,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Arizona State Retirement System boosted its holdings in GE Vernova by 2.1% in the 1st quarter. Arizona State Retirement System now owns 80,896 shares of the company's stock worth $24,696,000 after buying an additional 1,653 shares during the period. Realta Investment Advisors bought a new position in GE Vernova in the 1st quarter worth approximately $573,000. Ballentine Partners LLC boosted its holdings in GE Vernova by 0.8% in the 1st quarter. Ballentine Partners LLC now owns 5,129 shares of the company's stock worth $1,566,000 after buying an additional 39 shares during the period. Fort Sheridan Advisors LLC lifted its stake in GE Vernova by 10.5% in the 1st quarter. Fort Sheridan Advisors LLC now owns 2,835 shares of the company's stock worth $865,000 after purchasing an additional 270 shares in the last quarter. Finally, Fortem Financial Group LLC lifted its stake in GE Vernova by 147.2% in the 1st quarter. Fortem Financial Group LLC now owns 2,168 shares of the company's stock worth $662,000 after purchasing an additional 1,291 shares in the last quarter.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Truist Financial set a $440.00 target price on shares of GE Vernova in a research note on Thursday, March 27th. TD Cowen lowered 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 note on Thursday, April 24th. The Goldman Sachs Group increased their target price on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. JPMorgan Chase & Co. increased their target price on shares of GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Finally, Robert W. Baird increased their target price on shares of GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $451.38.

GE Vernova Trading Down 0.1%

GEV stock opened at $538.95 on Monday. The firm's 50-day moving average price is $476.87 and its two-hundred day moving average price is $390.18. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $546.65. The stock has a market capitalization of $147.10 billion, a price-to-earnings ratio of 77.66, a PEG ratio of 4.01 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $7.56 billion. During the same quarter in the previous year, the company earned ($0.47) earnings per share. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. Equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date is Monday, July 21st. GE Vernova's payout ratio is 14.41%.

GE Vernova Company 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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