New York State Teachers Retirement System Boosts Position in GE Vernova Inc. $GEV

New York State Teachers Retirement System raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 5.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 244,628 shares of the company’s stock after buying an additional 13,622 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of GE Vernova worth $129,445,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in GE Vernova in the 1st quarter worth approximately $912,000. Pines Wealth Management LLC bought a new stake in GE Vernova in the 2nd quarter worth approximately $408,000. Resona Asset Management Co. Ltd. lifted its position in GE Vernova by 8.2% in the first quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock valued at $26,229,000 after purchasing an additional 6,551 shares during the last quarter. Lockheed Martin Investment Management Co. bought a new stake in GE Vernova in the first quarter valued at approximately $458,000. Finally, Golden State Wealth Management LLC lifted its position in GE Vernova by 201.7% in the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company’s stock valued at $373,000 after purchasing an additional 817 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Bank of America upped their target price on GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Robert W. Baird upped their price target on GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Wells Fargo & Company upped their price target on GE Vernova from $474.00 to $697.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Seaport Res Ptn raised GE Vernova to a “strong-buy” rating in a research note on Thursday, July 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of GE Vernova in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $592.07.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $617.78 on Thursday. The company has a market cap of $168.17 billion, a P/E ratio of 148.86, a PEG ratio of 4.67 and a beta of 1.72. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The stock’s fifty day moving average price is $618.29 and its 200-day moving average price is $515.27.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. The firm 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%.The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be given a $0.25 dividend. The ex-dividend date is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is presently 24.10%.

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.