New York State Teachers Retirement System Has $141.60 Million Stock Position in GE Vernova Inc. $GEV

New York State Teachers Retirement System cut its position in GE Vernova Inc. (NYSE:GEV) by 5.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 230,288 shares of the company’s stock after selling 14,340 shares during the period. New York State Teachers Retirement System owned 0.08% of GE Vernova worth $141,604,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sachetta LLC grew its stake in GE Vernova by 10.7% in the second quarter. Sachetta LLC now owns 165 shares of the company’s stock valued at $87,000 after acquiring an additional 16 shares during the period. Good Life Advisors LLC lifted its holdings in shares of GE Vernova by 1.0% in the 2nd quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock worth $875,000 after purchasing an additional 16 shares in the last quarter. Bell Investment Advisors Inc grew its position in GE Vernova by 6.7% in 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 period. Northwest Wealth Management LLC increased its stake in GE Vernova by 3.6% during the 3rd quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock valued at $286,000 after purchasing an additional 16 shares in the last quarter. Finally, AMG National Trust Bank increased its stake in GE Vernova by 1.5% during the 2nd quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock valued at $606,000 after purchasing an additional 17 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Redburn Partners set a $475.00 price target on GE Vernova in a research note on Wednesday, October 15th. Mizuho dropped their price objective on GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 10th. Wolfe Research upgraded shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. Finally, Citigroup dropped their price target on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $689.00.

GE Vernova Trading Down 0.9%

Shares of NYSE:GEV opened at $622.69 on Friday. The company has a 50 day moving average of $620.58 and a 200 day moving average of $607.11. The stock has a market cap of $168.95 billion, a P/E ratio of 101.41, a P/E/G ratio of 2.61 and a beta of 1.67. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $731.00.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The company had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.GE Vernova’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.35) EPS. On average, equities 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 declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.3%. This is an increase 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 presently 32.57%.

GE Vernova Company 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.