VIRGINIA RETIREMENT SYSTEMS ET Al Invests $3.60 Million in GE Vernova Inc. $GEV

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in GE Vernova Inc. (NYSE:GEV) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,800 shares of the company’s stock, valued at approximately $3,598,000.

A number of other hedge funds have also made changes to their positions in GEV. EQ Wealth Advisors LLC purchased a new stake in shares of GE Vernova in the first quarter worth approximately $27,000. IMA Advisory Services Inc. purchased a new stake in shares of GE Vernova in the first quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC lifted its position in shares of GE Vernova by 115.2% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock worth $30,000 after purchasing an additional 53 shares in the last quarter. 1248 Management LLC purchased a new stake in shares of GE Vernova in the first quarter worth approximately $31,000. Finally, Saudi Central Bank purchased a new stake in shares of GE Vernova in the first quarter worth approximately $33,000.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the sale, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.

GE Vernova Stock Down 0.9%

Shares of GEV stock opened at $594.46 on Tuesday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The business’s 50 day moving average is $615.29 and its two-hundred day moving average is $524.40. The company has a market cap of $161.82 billion, a PE ratio of 143.24, a price-to-earnings-growth ratio of 4.34 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 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter last year, the company posted $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. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be paid a $0.25 dividend. The ex-dividend date is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is presently 24.10%.

Wall Street Analyst Weigh In

GEV has been the subject of a number of research analyst reports. TD Cowen increased their price target on shares of GE Vernova from $390.00 to $685.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. UBS Group initiated coverage on shares of GE Vernova in a research report on Monday, July 7th. They set a “buy” rating and a $614.00 price objective on the stock. Guggenheim lowered shares of GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Royal Bank Of Canada set a $605.00 price objective on shares of GE Vernova and gave the company a “sector perform” rating in a research report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. raised their price objective on shares of GE Vernova from $620.00 to $715.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $601.44.

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.