Public Employees Retirement System of Ohio Increases Stock Position in GE Vernova Inc. $GEV

Key Points

• The Public Employees Retirement System of Ohio increased its stake in GE Vernova Inc. by 15.9% during the second quarter, owning a total of 136,313 shares worth $72.1 million.
• Several research firms have adjusted their price targets for GE Vernova, with Barclays raising it to $706.00 and Jefferies Financial Group to $668.00, reflecting varying analyst ratings from “Strong Buy” to “Hold”.
• In a related insider transaction, CFO Kenneth Scott Parks sold 3,300 shares at approximately $620.00 each, reducing his ownership by 30.30% to control 7,590 shares valued at nearly $4.7 million.

Public Employees Retirement System of Ohio grew its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 15.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,313 shares of the company's stock after purchasing an additional 18,698 shares during the period. Public Employees Retirement System of Ohio's holdings in GE Vernova were worth $72,130,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atlas Brown Inc. grew its position in shares of GE Vernova by 0.8% during the 2nd quarter. Atlas Brown Inc. now owns 2,496 shares of the company's stock valued at $1,321,000 after acquiring an additional 19 shares during the period. Physician Wealth Advisors Inc. boosted its position in shares of GE Vernova by 9.0% in the second quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company's stock worth $128,000 after purchasing an additional 20 shares during the period. Grove Bank & Trust increased its stake in shares of GE Vernova by 16.0% in the second quarter. Grove Bank & Trust now owns 167 shares of the company's stock worth $88,000 after purchasing an additional 23 shares in the last quarter. Westover Capital Advisors LLC raised its position in shares of GE Vernova by 2.3% during the 1st quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock valued at $345,000 after purchasing an additional 25 shares during the period. Finally, SVB Wealth LLC boosted its holdings in GE Vernova by 0.7% in the 1st quarter. SVB Wealth LLC now owns 3,585 shares of the company's stock worth $1,094,000 after buying an additional 26 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have commented on GEV. Jefferies Financial Group raised their price target on GE Vernova from $658.00 to $668.00 and gave the company a "hold" rating in a report on Friday, September 12th. Barclays upped their price target on GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Wolfe Research lowered shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Mizuho downgraded shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target on the stock. in a report on Monday, July 28th. Finally, Bank of America increased their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and an average target price of $592.35.

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.15% of the stock is currently owned by company insiders.

GE Vernova Stock Down 1.7%

Shares of GE Vernova stock opened at $633.65 on Wednesday. The company has a market capitalization of $172.49 billion, a PE ratio of 152.69, a price-to-earnings-growth ratio of 4.70 and a beta of 1.87. The stock's fifty day moving average is $620.35 and its two-hundred day moving average is $483.28. GE Vernova Inc. has a 52 week low of $247.07 and a 52 week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion for 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 revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

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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