Maryland State Retirement & Pension System Has $7.03 Million Position in GE Vernova Inc. $GEV

Maryland State Retirement & Pension System lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 4.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,288 shares of the company’s stock after acquiring an additional 549 shares during the quarter. Maryland State Retirement & Pension System’s holdings in GE Vernova were worth $7,031,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Highline Wealth Partners LLC raised its position in shares of GE Vernova by 34.6% during the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock worth $37,000 after acquiring an additional 18 shares during the last quarter. Raleigh Capital Management Inc. bought a new stake in shares of GE Vernova during the second quarter worth $37,000. IMA Advisory Services Inc. bought a new stake in shares of GE Vernova during the first quarter worth $27,000. EQ Wealth Advisors LLC bought a new stake in shares of GE Vernova during the first quarter worth $27,000. Finally, West Branch Capital LLC raised its position in shares of GE Vernova by 25.6% during the second quarter. West Branch Capital LLC now owns 98 shares of the company’s stock worth $52,000 after acquiring an additional 20 shares during the last quarter.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $625.47 on Thursday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The business has a 50-day moving average of $621.18 and a two-hundred day moving average of $504.60. The company has a market capitalization of $170.27 billion, a P/E ratio of 150.72, a price-to-earnings-growth ratio of 4.41 and a beta of 1.72.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same period in the prior year, the company earned $4.65 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GEV shares. Seaport Res Ptn upgraded GE Vernova to a “strong-buy” rating in a research report on Thursday, July 10th. Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective for the company in a report on Monday, September 15th. Citigroup upped their price objective on GE Vernova from $544.00 to $670.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. JPMorgan Chase & Co. upped their price objective on GE Vernova from $620.00 to $715.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, BMO Capital Markets upped their price objective on GE Vernova from $590.00 to $690.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $598.50.

Insider Activity

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the sale, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by company insiders.

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.