Oregon Public Employees Retirement Fund Increases Stock Holdings in GE Vernova Inc. $GEV

Oregon Public Employees Retirement Fund raised its position in GE Vernova Inc. (NYSE:GEV) by 31.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,100 shares of the company’s stock after acquiring an additional 7,457 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in GE Vernova were worth $19,123,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Norges Bank acquired a new position in shares of GE Vernova in the second quarter valued at approximately $1,809,220,000. Arrowstreet Capital Limited Partnership boosted its position in GE Vernova by 273.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock valued at $798,126,000 after buying an additional 1,104,747 shares during the period. Assenagon Asset Management S.A. boosted its position in GE Vernova by 10,044.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock valued at $445,773,000 after buying an additional 834,129 shares during the period. Qube Research & Technologies Ltd grew its stake in shares of GE Vernova by 771.3% in the second quarter. Qube Research & Technologies Ltd now owns 763,226 shares of the company’s stock worth $403,861,000 after acquiring an additional 675,629 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of GE Vernova by 26.3% during the second quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock worth $1,173,262,000 after acquiring an additional 462,038 shares during the period.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $629.26 on Friday. The stock’s 50-day simple moving average is $619.83 and its 200-day simple moving average is $605.60. The firm has a market capitalization of $170.73 billion, a PE ratio of 102.49, a price-to-earnings-growth ratio of 2.77 and a beta of 1.67. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $731.00.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the prior year, the company earned ($0.35) earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be given a $0.50 dividend. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. GE Vernova’s payout ratio is 32.57%.

Wall Street Analyst Weigh In

GEV has been the subject of a number of recent research reports. Redburn Partners set a $475.00 target price on GE Vernova in a report on Wednesday, October 15th. Barclays lifted their price objective on GE Vernova from $800.00 to $830.00 and gave the company an “overweight” rating in a research note on Wednesday. Wolfe Research upgraded shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. Robert W. Baird reaffirmed a “neutral” rating and issued a $649.00 target price (down previously from $816.00) on shares of GE Vernova in a report on Friday. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $761.00 price target on shares of GE Vernova in a report on Monday, December 22nd. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $689.00.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.