GE Vernova Inc. $GEV Shares Bought by Vestcor Inc

Vestcor Inc raised its stake in GE Vernova Inc. (NYSE:GEV) by 33.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,813 shares of the company’s stock after purchasing an additional 2,458 shares during the quarter. Vestcor Inc’s holdings in GE Vernova were worth $6,034,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Brighton Jones LLC raised its stake in shares of GE Vernova by 29.4% during 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 last quarter. Schnieders Capital Management LLC. grew its position in GE Vernova by 1.7% in the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after buying an additional 26 shares during the last quarter. Vestmark Advisory Solutions Inc. purchased a new position in GE Vernova in the 2nd quarter valued at $212,000. Prospera Financial Services Inc increased its stake in GE Vernova by 113.0% in the 2nd quarter. Prospera Financial Services Inc now owns 6,760 shares of the company’s stock valued at $3,581,000 after buying an additional 3,587 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in GE Vernova by 92.8% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,982 shares of the company’s stock worth $3,165,000 after buying an additional 2,879 shares during the last quarter.

GE Vernova Stock Performance

GE Vernova stock opened at $829.66 on Tuesday. The company has a market cap of $223.62 billion, a P/E ratio of 46.61, a price-to-earnings-growth ratio of 3.14 and a beta of 1.44. GE Vernova Inc. has a one year low of $252.25 and a one year high of $894.93. The business has a fifty day moving average of $746.41 and a two-hundred day moving average of $658.06.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $10.40. The business had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.73 EPS. Sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s dividend payout ratio is presently 11.24%.

Analysts Set New Price Targets

Several research firms have recently commented on GEV. Evercore raised their target price on shares of GE Vernova from $860.00 to $905.00 and gave the stock an “outperform” rating in a research note on Thursday, January 29th. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 10th. Oppenheimer reissued an “outperform” rating on shares of GE Vernova in a report on Thursday, January 29th. Weiss Ratings upgraded shares of GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $785.00 price objective on shares of GE Vernova in a report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $831.29.

GE Vernova Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.