GE Vernova Inc. $GEV Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board lowered its position in GE Vernova Inc. (NYSE:GEV) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,319 shares of the company’s stock after selling 600 shares during the quarter. New Mexico Educational Retirement Board’s holdings in GE Vernova were worth $7,575,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of GEV. Norges Bank purchased a new stake in GE Vernova in the 2nd quarter valued at $1,809,220,000. Capital World Investors grew its position in GE Vernova by 1,907.5% during the 3rd quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock worth $1,325,842,000 after purchasing an additional 2,048,792 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in GE Vernova by 273.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock worth $798,126,000 after purchasing an additional 1,104,747 shares during the last quarter. Franklin Resources Inc. increased its stake in GE Vernova by 170.0% in the third quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company’s stock valued at $722,956,000 after purchasing an additional 740,339 shares during the period. Finally, Qube Research & Technologies Ltd increased its stake in GE Vernova by 771.3% in the second quarter. Qube Research & Technologies Ltd now owns 763,226 shares of the company’s stock valued at $403,861,000 after purchasing an additional 675,629 shares during the period.

GE Vernova Stock Up 1.5%

Shares of NYSE:GEV opened at $856.81 on Thursday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $894.93. The firm’s 50-day simple moving average is $769.86 and its 200-day simple moving average is $668.41. The company has a market cap of $230.93 billion, a price-to-earnings ratio of 48.14, a PEG ratio of 3.36 and a beta of 1.45.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $10.40. The firm had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.73 earnings per share. On average, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova’s dividend payout ratio is 11.24%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GEV shares. TD Cowen increased their target price on shares of GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Oppenheimer restated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 29th. Glj Research upped their price objective on GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Royal Bank Of Canada increased their price objective on GE Vernova from $761.00 to $800.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Finally, Wall Street Zen upgraded GE Vernova from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $831.29.

About GE Vernova

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.