Oregon Public Employees Retirement Fund Buys 2,145 Shares of GE Vernova Inc. $GEV

Key Points

• Oregon Public Employees Retirement Fund increased its GE Vernova stake by 6.9% in the second quarter, buying 2,145 shares and bringing its holdings to 33,042 shares valued at approximately $38.8 million.
• GE Vernova has attracted substantial institutional buying, while analysts maintain a broadly positive outlook with a “Moderate Buy” consensus and an average price target of $1,133.15. However, CEO Victor Abate sold shares worth about $4.6 million, and Morgan Stanley downgraded the stock to “underweight.”
• Shares opened at $1,063.52, near their 52-week high, after revenue rose 21.9% year over year; the company nevertheless missed quarterly EPS estimates, and its strong recent run has raised concerns about elevated valuation risk.

Oregon Public Employees Retirement Fund boosted its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 6.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,042 shares of the company's stock after buying an additional 2,145 shares during the quarter. Oregon Public Employees Retirement Fund's holdings in GE Vernova were worth $38,820,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Auto Owners Insurance Co raised its stake in shares of GE Vernova by 110,973.4% in the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company's stock valued at $2,278,224,000 after acquiring an additional 34,826,773 shares during the period. Norges Bank purchased a new position in shares of GE Vernova during the 4th quarter worth about $2,283,114,000. Northwestern Mutual Wealth Management Co. grew its holdings in GE Vernova by 5,171.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company's stock valued at $1,603,114,000 after purchasing an additional 2,406,326 shares during the last quarter. Corient Private Wealth LLC grew its holdings in GE Vernova by 2,802.8% during the 4th quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company's stock valued at $1,051,407,000 after purchasing an additional 1,553,295 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in GE Vernova by 4,358.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,519,799 shares of the company's stock valued at $1,316,076,000 after purchasing an additional 1,485,712 shares during the last quarter.

Insider Activity

In related news, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the transaction, the chief executive officer owned 1,835 shares of the company's stock, valued at $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GEV shares. William Blair reissued an "outperform" rating on shares of GE Vernova in a research note on Monday, August 3rd. Royal Bank Of Canada upped their target price on GE Vernova from $1,195.00 to $1,225.00 and gave the company an "outperform" rating in a research note on Thursday, July 23rd. Mizuho increased their price target on GE Vernova from $913.00 to $949.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Morgan Stanley lowered GE Vernova from an "overweight" rating to an "underweight" rating in a research note on Monday, August 3rd. Finally, Zacks Research cut GE Vernova from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,133.15.

GE Vernova News Roundup

Here are the key news stories impacting GE Vernova this week:

• Positive Sentiment: Raised outlook and robust demand: Management recently increased its full-year revenue guidance amid booming demand for power equipment. Recent coverage also highlights stronger orders, improving margins and free cash flow, supporting expectations for continued earnings growth. Should Investors Take Profits in GE Vernova After Its Big Run?
• Positive Sentiment: AI power beneficiary: Analysts and investors increasingly view GEV as an AI-infrastructure play because hyperscalers and data centers require significant new electricity-generation and grid capacity. The company’s backlog has reportedly reached approximately $176 billion, with more than $45 billion expected to be recognized over the next year. GE Vernova: I Can't Stop Buying This AI Power Stock
• Positive Sentiment: Additional nuclear opportunity: GE Vernova Hitachi Nuclear Energy and Blue Energy agreed to advance engineering, licensing and safety work for a proposed 2.5-gigawatt gas-and-nuclear facility in Texas, adding to the company’s long-term project pipeline. GE Vernova and Blue Energy Move Forward With 2.5 GW Texas Gas-Nuclear Power Project
• Neutral Sentiment: Analyst support: Erste Group reportedly expects stronger earnings for GE Vernova, reinforcing the bullish outlook, although the available report provides limited detail on the forecast or its assumptions. Erste Group Bank Predicts Stronger Earnings for GE Vernova
• Negative Sentiment: Valuation risk: After a roughly 64% one-year gain, a discounted-cash-flow analysis suggests the shares may be about 14% above intrinsic value. The premium valuation leaves less room for execution missteps, while recent commentary flags profit-related blemishes despite strong results and raised guidance. GE Vernova Stock Could Be 14% Overvalued As Backlog Hits Record High

GE Vernova Trading Up 1.3%

Shares of GEV opened at $1,063.52 on Friday. The firm has a market capitalization of $283.25 billion, a price-to-earnings ratio of 30.44, a PEG ratio of 3.79 and a beta of 1.21. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. GE Vernova Inc. has a 1-year low of $530.16 and a 1-year high of $1,195.94. The company has a 50-day moving average of $1,034.05 and a 200 day moving average of $957.76.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts' consensus estimates of $3.17 by ($0.70). The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.GE Vernova's revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.86 earnings per share. On average, research analysts expect that GE Vernova Inc. will post 15.57 EPS for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th were issued a $0.50 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's payout ratio is presently 5.72%.

GE Vernova Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source