GE Vernova Inc. $GEV Stake Lowered by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in GE Vernova Inc. by 7.6%, selling 7,799 shares and holding 94,258 shares valued at $28.77 million.
• Barclays, JPMorgan, and Wells Fargo have all raised their price targets for GE Vernova shares, with Barclays increasing it from $580 to $706 and JPMorgan from $620 to $715, all maintaining an "overweight" rating.
• GE Vernova announced a quarterly dividend of $0.25 per share, representing an annualized dividend yield of 0.2%.

State of New Jersey Common Pension Fund D lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 7.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 94,258 shares of the company's stock after selling 7,799 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in GE Vernova were worth $28,775,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GEV. Brighton Jones LLC lifted its position in GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after purchasing an additional 753 shares during the period. American Assets Inc. bought a new stake in shares of GE Vernova in the 4th quarter worth $658,000. CreativeOne Wealth LLC raised its stake in shares of GE Vernova by 21.8% in the 4th quarter. CreativeOne Wealth LLC now owns 2,632 shares of the company's stock worth $866,000 after buying an additional 471 shares in the last quarter. Guggenheim Capital LLC lifted its holdings in shares of GE Vernova by 63.5% in the fourth quarter. Guggenheim Capital LLC now owns 6,077 shares of the company's stock valued at $1,999,000 after buying an additional 2,361 shares during the period. Finally, Regal Investment Advisors LLC bought a new position in GE Vernova during the fourth quarter valued at about $256,000.

GE Vernova Trading Up 0.3%

NYSE:GEV traded up $1.7290 during trading hours on Wednesday, hitting $604.8590. 3,569,357 shares of the stock traded hands, compared to its average volume of 2,858,152. The firm has a 50 day moving average price of $571.62 and a 200 day moving average price of $437.96. The firm has a market cap of $164.65 billion, a price-to-earnings ratio of 145.75, a PEG ratio of 4.17 and a beta of 1.90. GE Vernova Inc. has a fifty-two week low of $173.07 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.GE Vernova's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were issued a $0.25 dividend. The ex-dividend date was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is currently 24.10%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GEV. Wolfe Research cut shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Mizuho cut shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price objective on the stock. in a research note on Monday, July 28th. The Goldman Sachs Group increased their target price on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Morgan Stanley raised their target price on shares of GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company lifted their price target on shares of GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $560.21.

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.