Public Employees Retirement Association of Colorado Decreases Stock Position in GE Vernova Inc. (NYSE:GEV)

Public Employees Retirement Association of Colorado reduced its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,431 shares of the company's stock after selling 1,070 shares during the quarter. Public Employees Retirement Association of Colorado's holdings in GE Vernova were worth $12,312,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of GEV. Cedar Mountain Advisors LLC lifted its holdings in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock worth $25,000 after purchasing an additional 39 shares during the period. MRP Capital Investments LLC acquired a new stake in GE Vernova in the fourth quarter valued at $25,000. Fairway Wealth LLC lifted its holdings in 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 acquiring an additional 55 shares during the period. Pineridge Advisors LLC lifted its holdings in GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after acquiring an additional 69 shares during the period. Finally, Pinpoint Asset Management Ltd acquired a new stake in GE Vernova in the fourth quarter valued at $30,000.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Truist Financial set a $440.00 target price on GE Vernova in a report on Thursday, March 27th. Robert W. Baird raised their price target on GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. William Blair restated an "outperform" rating on shares of GE Vernova in a research report on Thursday, January 23rd. Citigroup dropped their price target on GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, TD Cowen dropped their price target on GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $369.22.

GE Vernova Stock Up 3.1 %

Shares of NYSE GEV traded up $11.45 during midday trading on Thursday, hitting $382.27. The stock had a trading volume of 3,047,534 shares, compared to its average volume of 3,336,519. The company has a market capitalization of $104.34 billion and a price-to-earnings ratio of 68.75. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $447.50. The company has a fifty day moving average price of $319.89 and a 200 day moving average price of $334.60.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company's revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.47) EPS. On average, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova's dividend payout ratio is currently 14.41%.

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.