State of Alaska Department of Revenue Sells 855 Shares of GE Vernova Inc. $GEV

State of Alaska Department of Revenue lowered its position in shares of GE Vernova Inc. (NYSE:GEV) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,755 shares of the company’s stock after selling 855 shares during the quarter. State of Alaska Department of Revenue’s holdings in GE Vernova were worth $18,296,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GEV. Vanguard Group Inc. boosted its holdings in GE Vernova by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company’s stock worth $13,051,258,000 after buying an additional 271,958 shares during the period. State Street Corp lifted its position in shares of GE Vernova by 1.9% in the second quarter. State Street Corp now owns 11,097,778 shares of the company’s stock valued at $5,872,389,000 after acquiring an additional 206,650 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of GE Vernova by 2.2% in the second quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock worth $3,221,404,000 after acquiring an additional 129,315 shares during the period. Norges Bank purchased a new stake in shares of GE Vernova during the second quarter worth about $1,809,220,000. Finally, Invesco Ltd. grew 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 purchasing an additional 462,038 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GEV. Royal Bank Of Canada reissued an “outperform” rating and issued a $761.00 price target on shares of GE Vernova in a report on Monday, December 22nd. Morgan Stanley boosted their target price on shares of GE Vernova from $710.00 to $822.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Rothschild Redb lowered shares of GE Vernova from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Seaport Res Ptn downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 11th. Finally, William Blair reiterated an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 10th. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $689.00.

GE Vernova Stock Performance

Shares of GEV opened at $629.26 on Friday. The stock has a market capitalization of $170.73 billion, a PE ratio of 102.49, a P/E/G ratio of 2.77 and a beta of 1.67. The company’s fifty day moving average is $619.83 and its 200 day moving average is $605.60. 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 issued its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The business had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.35) earnings per share. As a group, research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, January 5th. GE Vernova’s dividend payout ratio (DPR) is currently 32.57%.

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.