Police & Firemen s Retirement System of New Jersey Raises Stock Holdings in GE Vernova Inc. $GEV

Police & Firemen s Retirement System of New Jersey raised its position in shares of GE Vernova Inc. (NYSE:GEV) by 4.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,488 shares of the company’s stock after purchasing an additional 1,809 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in GE Vernova were worth $21,953,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Sachetta LLC raised its position in GE Vernova by 10.7% during the 2nd quarter. Sachetta LLC now owns 165 shares of the company’s stock worth $87,000 after buying an additional 16 shares during the last quarter. AMG National Trust Bank lifted its position in GE Vernova by 1.5% during the second quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock valued at $606,000 after purchasing an additional 17 shares during the period. Highline Wealth Partners LLC boosted its holdings in GE Vernova by 34.6% in the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after purchasing an additional 18 shares during the last quarter. Atlas Brown Inc. grew its position in GE Vernova by 0.8% during the 2nd quarter. Atlas Brown Inc. now owns 2,496 shares of the company’s stock worth $1,321,000 after purchasing an additional 19 shares during the period. Finally, Princeton Global Asset Management LLC raised its stake in shares of GE Vernova by 14.4% during the 2nd quarter. Princeton Global Asset Management LLC now owns 151 shares of the company’s stock valued at $80,000 after buying an additional 19 shares during the last quarter.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $575.07 on Thursday. The business’s 50 day moving average price is $601.77 and its 200-day moving average price is $554.47. The firm has a market capitalization of $156.03 billion, a PE ratio of 93.66, a P/E/G ratio of 4.28 and a beta of 1.68. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The business had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.GE Vernova’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is 16.29%.

Insider Activity at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the transaction, the chief financial officer 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on GEV. Rothschild & Co Redburn restated a “sell” rating and issued a $475.00 price objective on shares of GE Vernova in a research report on Wednesday, October 15th. Robert W. Baird raised their price target on shares of GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Bank of America upped their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. UBS Group set a $710.00 target price on shares of GE Vernova in a research note on Thursday, October 23rd. Finally, Cowen restated a “buy” rating on shares of GE Vernova in a research note on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $607.81.

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.