Utah Retirement Systems Buys 100 Shares of GE Vernova Inc. (NYSE:GEV)

Utah Retirement Systems raised its stake in GE Vernova Inc. (NYSE:GEV) by 0.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,199 shares of the company’s stock after buying an additional 100 shares during the period. Utah Retirement Systems’ holdings in GE Vernova were worth $14,867,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cedar Mountain Advisors LLC boosted its position in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares during the period. MRP Capital Investments LLC purchased a new position in shares of GE Vernova in the fourth quarter worth about $25,000. Fairway Wealth LLC increased its holdings in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after buying an additional 55 shares during the period. Pineridge Advisors LLC increased its holdings in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares during the period. Finally, Pinpoint Asset Management Ltd purchased a new position in shares of GE Vernova in the fourth quarter worth about $30,000.

Analyst Ratings Changes

Several research firms have recently commented on GEV. The Goldman Sachs Group lifted their price objective on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. New Street Research set a $380.00 price objective on GE Vernova in a report on Wednesday, March 5th. Royal Bank of Canada decreased their price objective on GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $422.00 price objective (up previously from $400.00) on shares of GE Vernova in a report on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $369.22.

GE Vernova Stock Up 0.2 %

Shares of GEV opened at $370.94 on Wednesday. The business’s 50 day moving average price is $319.02 and its 200-day moving average price is $334.35. GE Vernova Inc. has a 52 week low of $149.42 and a 52 week high of $447.50. The stock has a market cap of $101.24 billion and a P/E ratio of 66.72.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.54. The firm had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.47) EPS. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.27%. GE Vernova’s dividend payout ratio (DPR) is presently 14.41%.

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.