Strs Ohio Takes Position in GE Vernova Inc. $GEV

Strs Ohio purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 169,989 shares of the company’s stock, valued at approximately $51,894,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EQ Wealth Advisors LLC purchased a new position in GE Vernova during the 1st quarter worth $27,000. IMA Advisory Services Inc. purchased a new position in GE Vernova during the 1st quarter worth $27,000. Orion Capital Management LLC purchased a new position in GE Vernova during the 4th quarter worth $30,000. Mowery & Schoenfeld Wealth Management LLC increased its holdings in GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock worth $30,000 after purchasing an additional 53 shares during the period. Finally, Saudi Central Bank purchased a new position in GE Vernova during the 1st quarter worth $33,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Susquehanna lifted their price target on GE Vernova from $662.00 to $736.00 and gave the company a “positive” rating in a report on Thursday, July 24th. Royal Bank Of Canada reiterated an “outperform” rating on shares of GE Vernova in a report on Thursday, July 24th. UBS Group initiated coverage on GE Vernova in a report on Monday, July 7th. They issued a “buy” rating and a $614.00 price target on the stock. Robert W. Baird boosted their target price on GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Finally, Morgan Stanley boosted their target price on GE Vernova from $511.00 to $675.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $573.75.

Insider Buying and Selling

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. Insiders own 0.15% of the company’s stock.

GE Vernova Stock Performance

Shares of GEV opened at $642.78 on Thursday. The stock has a 50-day moving average of $604.12 and a two-hundred day moving average of $462.85. GE Vernova Inc. has a one year low of $199.65 and a one year high of $677.29. The stock has a market cap of $174.98 billion, a P/E ratio of 154.89, a P/E/G ratio of 4.19 and a beta of 1.87.

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

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were given a dividend of $0.25 per share. The ex-dividend date was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is presently 24.10%.

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.