Retirement Systems of Alabama Has $66.32 Million Position in GE Vernova Inc. $GEV

Retirement Systems of Alabama cut its position in GE Vernova Inc. (NYSE:GEV) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,453 shares of the company’s stock after selling 783 shares during the period. Retirement Systems of Alabama’s holdings in GE Vernova were worth $66,324,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Manning & Napier Advisors LLC raised its stake in GE Vernova by 68.4% during the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after buying an additional 13 shares during the period. Miller Global Investments LLC grew its stake in GE Vernova by 63.6% in the second quarter. Miller Global Investments LLC now owns 36 shares of the company’s stock valued at $42,000 after acquiring an additional 14 shares during the period. Torren Management LLC bought a new stake in shares of GE Vernova in the fourth quarter worth about $26,000. Cornerstone Financial Management LLC acquired a new stake in shares of GE Vernova during the fourth quarter worth about $25,000. Finally, Wealth Watch Advisors INC bought a new position in shares of GE Vernova during the 3rd quarter valued at about $25,000.

Insider Activity

In related news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the sale, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GEV. Royal Bank Of Canada boosted their price objective on GE Vernova from $1,195.00 to $1,225.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Morgan Stanley lowered shares of GE Vernova from an “overweight” rating to an “underweight” rating in a research note on Monday, August 3rd. TD Cowen upped their price target on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Robert W. Baird raised their price objective on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,133.15.

GE Vernova Stock Performance

Shares of GEV stock opened at $1,063.52 on Friday. GE Vernova Inc. has a 12 month low of $530.16 and a 12 month high of $1,195.94. The company’s fifty day simple moving average is $1,034.05 and its 200-day simple moving average is $957.76. The firm has a market cap of $283.25 billion, a PE ratio of 30.44, a P/E/G ratio of 3.79 and a beta of 1.21. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. During the same period last year, the business posted $1.86 EPS. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. Equities research analysts expect that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th were issued a $0.50 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is presently 5.72%.

Key Headlines Impacting GE Vernova

Here are the key news stories impacting GE Vernova this week:

• Positive Sentiment: Raised outlook and robust demand: Management recently increased its full-year revenue guidance amid booming demand for power equipment. Recent coverage also highlights stronger orders, improving margins and free cash flow, supporting expectations for continued earnings growth. Should Investors Take Profits in GE Vernova After Its Big Run?
• Positive Sentiment: AI power beneficiary: Analysts and investors increasingly view GEV as an AI-infrastructure play because hyperscalers and data centers require significant new electricity-generation and grid capacity. The company’s backlog has reportedly reached approximately $176 billion, with more than $45 billion expected to be recognized over the next year. GE Vernova: I Can’t Stop Buying This AI Power Stock
• Positive Sentiment: Additional nuclear opportunity: GE Vernova Hitachi Nuclear Energy and Blue Energy agreed to advance engineering, licensing and safety work for a proposed 2.5-gigawatt gas-and-nuclear facility in Texas, adding to the company’s long-term project pipeline. GE Vernova and Blue Energy Move Forward With 2.5 GW Texas Gas-Nuclear Power Project
• Neutral Sentiment: Analyst support: Erste Group reportedly expects stronger earnings for GE Vernova, reinforcing the bullish outlook, although the available report provides limited detail on the forecast or its assumptions. Erste Group Bank Predicts Stronger Earnings for GE Vernova
• Negative Sentiment: Valuation risk: After a roughly 64% one-year gain, a discounted-cash-flow analysis suggests the shares may be about 14% above intrinsic value. The premium valuation leaves less room for execution missteps, while recent commentary flags profit-related blemishes despite strong results and raised guidance. GE Vernova Stock Could Be 14% Overvalued As Backlog Hits Record High

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.