Public Employees Retirement System of Ohio Sells 3,467 Shares of GE Vernova Inc. (NYSE:GEV)

Public Employees Retirement System of Ohio lessened its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,564 shares of the company's stock after selling 3,467 shares during the quarter. Public Employees Retirement System of Ohio's holdings in GE Vernova were worth $40,315,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Atomi Financial Group Inc. increased its holdings in shares of GE Vernova by 14.7% in the fourth quarter. Atomi Financial Group Inc. now owns 1,817 shares of the company's stock valued at $598,000 after purchasing an additional 233 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of GE Vernova by 18.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 45,488 shares of the company's stock worth $14,963,000 after buying an additional 7,099 shares in the last quarter. Traynor Capital Management Inc. purchased a new position in GE Vernova in the fourth quarter worth approximately $231,000. Mutual Advisors LLC increased its position in shares of GE Vernova by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company's stock valued at $888,000 after purchasing an additional 31 shares during the last quarter. Finally, Secure Asset Management LLC raised its holdings in shares of GE Vernova by 103.5% in the 4th quarter. Secure Asset Management LLC now owns 2,637 shares of the company's stock valued at $867,000 after purchasing an additional 1,341 shares in the last quarter.

GE Vernova Price Performance

Shares of GEV traded down $8.08 during trading hours on Thursday, hitting $476.93. 2,686,758 shares of the company were exchanged, compared to its average volume of 3,331,259. The company has a market capitalization of $130.17 billion and a PE ratio of 85.70. The firm has a fifty day simple moving average of $366.57 and a 200-day simple moving average of $353.37. GE Vernova Inc. has a one year low of $150.01 and a one year high of $502.03.

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 the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.47) earnings per share. Sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.21%. The ex-dividend date was Thursday, April 17th. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada cut their target price on GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 18th. Jefferies Financial Group cut shares of GE Vernova from a "buy" rating to a "hold" rating and raised their price objective for the stock from $427.00 to $517.00 in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Marathon Capitl raised shares of GE Vernova to a "strong-buy" rating in a research report on Friday, January 31st. Finally, Robert W. Baird boosted their price target 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. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $378.78.

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.