State of New Jersey Common Pension Fund D Sells 1,368 Shares of GE Vernova Inc. $GEV

State of New Jersey Common Pension Fund D trimmed its position in shares of GE Vernova Inc. (NYSE:GEV) by 1.5% in the second quarter, Holdings Channel reports. The fund owned 92,890 shares of the company’s stock after selling 1,368 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in GE Vernova were worth $49,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. IMA Advisory Services Inc. bought a new stake in GE Vernova during the first quarter valued at about $27,000. WFA Asset Management Corp acquired a new position in shares of GE Vernova during the second quarter valued at about $29,000. Mowery & Schoenfeld Wealth Management LLC raised its position in shares of GE Vernova by 115.2% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock valued at $30,000 after buying an additional 53 shares during the last quarter. 1248 Management LLC acquired a new position in shares of GE Vernova during the first quarter valued at about $31,000. Finally, Saudi Central Bank acquired a new position in shares of GE Vernova during the first quarter valued at about $33,000.

GE Vernova Stock Down 1.8%

NYSE:GEV opened at $584.68 on Friday. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29. The firm has a market capitalization of $158.64 billion, a PE ratio of 95.23, a price-to-earnings-growth ratio of 4.30 and a beta of 1.72. The firm has a 50-day moving average price of $611.31 and a 200 day moving average price of $529.36.

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

GE Vernova Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GEV shares. Mizuho cut their price objective on shares of GE Vernova from $677.00 to $660.00 and set a “neutral” rating for the company in a research report on Friday. Morgan Stanley upped their price objective on shares of GE Vernova from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Cowen reaffirmed a “buy” rating on shares of GE Vernova in a research report on Thursday. Barclays upped their price objective on shares of GE Vernova from $706.00 to $710.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, BMO Capital Markets upped their price objective on shares of GE Vernova from $690.00 to $710.00 and gave the company an “outperform” rating in a research report on Thursday. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $607.59.

Insiders Place Their Bets

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

GE Vernova 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.