GE Vernova Inc. (NYSE:GEV) Shares Purchased by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 0.7% during the fourth quarter, Holdings Channel reports. The firm owned 23,633 shares of the company’s stock after acquiring an additional 159 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in GE Vernova were worth $7,774,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Howard Capital Management Group LLC purchased a new position in shares of GE Vernova during the third quarter worth about $213,000. J.W. Cole Advisors Inc. grew its stake in GE Vernova by 2.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 3,423 shares of the company’s stock worth $873,000 after acquiring an additional 67 shares during the period. Pallas Capital Advisors LLC acquired a new position in shares of GE Vernova in the 3rd quarter valued at $436,000. Valmark Advisers Inc. boosted its holdings in shares of GE Vernova by 38.2% in the 3rd quarter. Valmark Advisers Inc. now owns 2,343 shares of the company’s stock valued at $597,000 after purchasing an additional 648 shares during the last quarter. Finally, Childress Capital Advisors LLC acquired a new position in shares of GE Vernova during the 3rd quarter valued at $225,000.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GEV shares. Johnson Rice began coverage on shares of GE Vernova in a research report on Friday, February 7th. They issued a “buy” rating and a $425.00 target price for the company. JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. BMO Capital Markets upped their price target on shares of GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Truist Financial increased their price target on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, CICC Research began coverage on shares of GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating for the company. Eight research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $350.13.

GE Vernova Trading Up 5.5 %

Shares of NYSE GEV opened at $335.15 on Thursday. The firm has a market capitalization of $92.47 billion and a price-to-earnings ratio of 60.28. The business has a 50-day moving average of $364.13 and a 200-day moving average of $303.37. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. On average, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its board has approved a share repurchase program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.30%. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

GE Vernova Company 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.