Louisiana State Employees Retirement System Sells 400 Shares of GE Vernova Inc. $GEV

Louisiana State Employees Retirement System trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,400 shares of the company’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in GE Vernova were worth $7,620,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in GE Vernova in the 1st quarter worth $912,000. Pines Wealth Management LLC purchased a new stake in GE Vernova in the second quarter worth about $408,000. Resona Asset Management Co. Ltd. increased 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 worth $26,229,000 after buying an additional 6,551 shares in the last quarter. Lockheed Martin Investment Management Co. purchased a new stake in GE Vernova in the first quarter worth about $458,000. Finally, Golden State Wealth Management LLC increased 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 worth $373,000 after buying an additional 817 shares in the last quarter.

Insider Activity at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the sale, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

GE Vernova Price Performance

GE Vernova stock opened at $606.24 on Wednesday. The stock has a market cap of $165.03 billion, a P/E ratio of 146.08, a PEG ratio of 4.39 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 firm’s 50 day moving average price is $621.76 and its 200-day moving average price is $503.77.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. GE Vernova’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the company posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s dividend payout ratio is 24.10%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GEV. BMO Capital Markets boosted their price objective on GE Vernova from $590.00 to $690.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Wells Fargo & Company lifted their price target on shares of GE Vernova from $474.00 to $697.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Melius Research set a $740.00 price target on shares of GE Vernova and gave the company a “buy” rating in a report on Monday, September 15th. Susquehanna raised their price objective on shares of GE Vernova from $662.00 to $736.00 and gave the company a “positive” rating in a research report on Thursday, July 24th. Finally, Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $598.50.

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.