Public Sector Pension Investment Board Decreases Stake in GE Vernova Inc. $GEV

Public Sector Pension Investment Board lowered its position in shares of GE Vernova Inc. (NYSE:GEV) by 54.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,527 shares of the company’s stock after selling 28,203 shares during the quarter. Public Sector Pension Investment Board’s holdings in GE Vernova were worth $14,467,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GEV. Good Life Advisors LLC boosted its position in GE Vernova by 1.0% in the second quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock worth $875,000 after purchasing an additional 16 shares during the last quarter. Bell Investment Advisors Inc increased its position in shares of GE Vernova by 6.7% during the 2nd quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock valued at $135,000 after purchasing an additional 16 shares during the last quarter. Northwest Wealth Management LLC raised its stake in shares of GE Vernova by 3.6% during the 3rd quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock worth $286,000 after purchasing an additional 16 shares during the period. AMG National Trust Bank boosted its holdings in shares of GE Vernova by 1.5% in the 2nd quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock worth $606,000 after buying an additional 17 shares during the last quarter. Finally, Traphagen Investment Advisors LLC boosted its holdings in shares of GE Vernova by 1.2% in the 3rd quarter. Traphagen Investment Advisors LLC now owns 1,418 shares of the company’s stock worth $872,000 after buying an additional 17 shares during the last quarter.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Susquehanna raised their price objective on shares of GE Vernova from $800.00 to $820.00 and gave the stock a “positive” rating in a report on Thursday, January 29th. Morgan Stanley restated an “overweight” rating and set a $817.00 price target on shares of GE Vernova in a research note on Monday, January 26th. Oppenheimer reaffirmed an “outperform” rating on shares of GE Vernova in a report on Thursday, January 29th. Royal Bank Of Canada upped their price objective on GE Vernova from $761.00 to $800.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Finally, TD Cowen raised their target price on GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $788.24.

GE Vernova Trading Down 1.8%

GEV opened at $801.76 on Friday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $846.00. The company has a market cap of $216.10 billion, a PE ratio of 45.04, a price-to-earnings-growth ratio of 3.19 and a beta of 1.67. The company has a 50 day moving average of $689.84 and a 200 day moving average of $635.51.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $10.21 billion. During the same quarter in the previous year, the firm posted $1.73 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Research 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 disclosed a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, January 5th were issued a dividend of $0.50 per share. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s payout ratio is currently 11.24%.

GE Vernova 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.