GE Vernova Inc. $GEV Shares Acquired by Vestcor Inc

Vestcor Inc grew its holdings in GE Vernova Inc. (NYSE:GEV) by 33.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 9,813 shares of the company’s stock after acquiring an additional 2,458 shares during the quarter. Vestcor Inc’s holdings in GE Vernova were worth $6,034,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. WINTON GROUP Ltd boosted its holdings in GE Vernova by 18.6% in the third quarter. WINTON GROUP Ltd now owns 44,439 shares of the company’s stock valued at $27,326,000 after purchasing an additional 6,962 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management raised its holdings in GE Vernova by 7.8% during the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 15,482 shares of the company’s stock worth $9,520,000 after purchasing an additional 1,118 shares in the last quarter. Fort Sheridan Advisors LLC raised its holdings in GE Vernova by 4.3% during the third quarter. Fort Sheridan Advisors LLC now owns 2,957 shares of the company’s stock worth $1,818,000 after purchasing an additional 122 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of GE Vernova by 7.4% during the 3rd quarter. Private Advisor Group LLC now owns 34,724 shares of the company’s stock worth $21,352,000 after buying an additional 2,383 shares during the last quarter. Finally, Certified Advisory Corp purchased a new stake in shares of GE Vernova during the 3rd quarter worth approximately $260,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. UBS Group reaffirmed a “buy” rating on shares of GE Vernova in a research report on Thursday, January 29th. Susquehanna upped their price objective on shares of GE Vernova from $800.00 to $820.00 and gave the company a “positive” rating in a research note on Thursday, January 29th. Bank of America raised their price objective on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Evercore lifted their target price on GE Vernova from $860.00 to $905.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Finally, Mizuho set a $714.00 target price on GE Vernova in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $831.29.

GE Vernova Price Performance

GEV stock opened at $829.66 on Tuesday. The company has a fifty day moving average price of $746.41 and a 200 day moving average price of $658.06. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $894.93. The company has a market cap of $223.62 billion, a price-to-earnings ratio of 46.61, a price-to-earnings-growth ratio of 3.14 and a beta of 1.44.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data 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 company had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. GE Vernova’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $1.73 EPS. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

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. The ex-dividend date is Tuesday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is 11.24%.

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.