State of Alaska Department of Revenue Sells 855 Shares of GE Vernova Inc. $GEV

State of Alaska Department of Revenue decreased its position in shares of GE Vernova Inc. (NYSE:GEV) by 2.8% during the third quarter, HoldingsChannel reports. The fund owned 29,755 shares of the company’s stock after selling 855 shares during the quarter. State of Alaska Department of Revenue’s holdings in GE Vernova were worth $18,296,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GEV. Capital Investment Advisors LLC grew its holdings in GE Vernova by 2.1% during the 3rd quarter. Capital Investment Advisors LLC now owns 3,679 shares of the company’s stock valued at $2,262,000 after purchasing an additional 74 shares during the last quarter. Family Capital Trust Co purchased a new position in shares of GE Vernova during the third quarter valued at approximately $178,000. Vermillion Wealth Management Inc. grew its stake in shares of GE Vernova by 29.9% during the third quarter. Vermillion Wealth Management Inc. now owns 435 shares of the company’s stock valued at $268,000 after buying an additional 100 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of GE Vernova by 41.8% in the third quarter. Nisa Investment Advisors LLC now owns 75,370 shares of the company’s stock worth $46,345,000 after buying an additional 22,218 shares during the period. Finally, Elk River Wealth Management LLC bought a new stake in shares of GE Vernova during the 3rd quarter worth approximately $3,218,000.

GE Vernova Price Performance

NYSE:GEV opened at $629.26 on Friday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $731.00. The company has a 50-day moving average of $619.83 and a 200 day moving average of $605.60. The firm has a market cap of $170.73 billion, a PE ratio of 102.49, a price-to-earnings-growth ratio of 2.77 and a beta of 1.67.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same period last year, the business posted ($0.35) EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, January 5th. GE Vernova’s payout ratio is presently 32.57%.

Analysts Set New Price Targets

GEV has been the subject of a number of recent analyst reports. Glj Research boosted their price objective on GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Barclays boosted their target price on shares of GE Vernova from $800.00 to $830.00 and gave the company an “overweight” rating in a research note on Wednesday. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 10th. Royal Bank Of Canada reiterated an “outperform” rating and set a $761.00 price objective on shares of GE Vernova in a report on Monday, December 22nd. Finally, TD Cowen lowered their price objective on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. Four investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $689.00.

GE Vernova Company 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.