Ontario Teachers Pension Plan Board Invests $1.70 Million in GE Vernova Inc. (NYSE:GEV)

Ontario Teachers Pension Plan Board purchased a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,181 shares of the company's stock, valued at approximately $1,704,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC lifted its position in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock valued at $25,000 after acquiring an additional 39 shares in the last quarter. MRP Capital Investments LLC bought a new position in shares of GE Vernova in the fourth quarter valued at approximately $25,000. Fairway Wealth LLC lifted its holdings in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after purchasing an additional 55 shares in the last quarter. Pineridge Advisors LLC grew its holdings in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after buying an additional 69 shares in the last quarter. Finally, Pinpoint Asset Management Ltd purchased a new stake in GE Vernova in the 4th quarter valued at $30,000.

Wall Street Analyst Weigh In

GEV has been the subject of several recent analyst reports. Marathon Capitl upgraded shares of GE Vernova to a "strong-buy" rating in a research note on Friday, January 31st. Robert W. Baird dropped their target price on shares of GE Vernova from $448.00 to $387.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Baird R W raised GE Vernova to a "strong-buy" rating in a report on Thursday, February 13th. William Blair reiterated an "outperform" rating on shares of GE Vernova in a report on Thursday, January 23rd. Finally, Jefferies Financial Group raised their target price on GE Vernova from $391.00 to $413.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova currently has an average rating of "Moderate Buy" and a consensus target price of $357.13.

GE Vernova Price Performance

GEV stock traded down $10.48 during mid-day trading on Monday, hitting $313.07. 762,445 shares of the stock were exchanged, compared to its average volume of 3,352,400. The stock has a market capitalization of $85.58 billion and a price-to-earnings ratio of 56.31. The business has a fifty day moving average price of $321.67 and a 200 day moving average price of $330.67. GE Vernova Inc. has a 12 month low of $132.11 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm had revenue of $10.56 billion during the quarter, compared to analysts' expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.32%. The ex-dividend date is Thursday, April 17th. GE Vernova's dividend payout ratio is presently 17.99%.

About GE Vernova

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.