GE Vernova Inc. (NYSE:GEV) Shares Bought by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 119,854 shares of the company’s stock after buying an additional 750 shares during the period. Treasurer of the State of North Carolina’s holdings in GE Vernova were worth $39,424,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in GEV. Howard Capital Management Group LLC purchased a new position in shares of GE Vernova during the 3rd quarter worth approximately $213,000. National Bank of Canada FI increased its position in GE Vernova by 17.0% during the third quarter. National Bank of Canada FI now owns 10,749 shares of the company’s stock worth $2,741,000 after buying an additional 1,559 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of GE Vernova by 4.1% in the third quarter. Orion Portfolio Solutions LLC now owns 8,549 shares of the company’s stock valued at $2,180,000 after acquiring an additional 334 shares in the last quarter. MML Investors Services LLC boosted its stake in shares of GE Vernova by 45.7% during the third quarter. MML Investors Services LLC now owns 30,418 shares of the company’s stock valued at $7,756,000 after acquiring an additional 9,537 shares during the last quarter. Finally, Continuum Advisory LLC grew its holdings in shares of GE Vernova by 291.7% during the third quarter. Continuum Advisory LLC now owns 517 shares of the company’s stock worth $132,000 after buying an additional 385 shares in the last quarter.

GE Vernova Stock Performance

NYSE:GEV opened at $311.06 on Friday. The company has a market capitalization of $85.03 billion and a price-to-earnings ratio of 55.95. GE Vernova Inc. has a one year low of $128.25 and a one year high of $447.50. The stock has a 50-day simple moving average of $327.44 and a 200 day simple moving average of $327.19.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.32%. GE Vernova’s payout ratio is 17.99%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Royal Bank of Canada lowered their price objective on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research report on Tuesday, March 18th. The Goldman Sachs Group upped their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Barclays dropped their price target on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Finally, Wells Fargo & Company lifted their price target on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Seven research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $348.80.

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.