GE Vernova Inc. $GEV Stock Holdings Boosted by California Public Employees Retirement System

California Public Employees Retirement System increased its position in GE Vernova Inc. (NYSE:GEV) by 6.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 459,016 shares of the company’s stock after acquiring an additional 27,987 shares during the period. California Public Employees Retirement System owned approximately 0.17% of GE Vernova worth $242,888,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after buying an additional 753 shares during the last quarter. Savvy Advisors Inc. increased its position in GE Vernova by 12.7% in the 1st quarter. Savvy Advisors Inc. now owns 1,984 shares of the company’s stock valued at $606,000 after acquiring an additional 223 shares during the period. Zions Bancorporation National Association UT bought a new stake in GE Vernova during the 1st quarter valued at $134,000. Townsquare Capital LLC boosted its position in GE Vernova by 13.8% during the 1st quarter. Townsquare Capital LLC now owns 6,044 shares of the company’s stock worth $1,845,000 after acquiring an additional 731 shares during the period. Finally, Koss Olinger Consulting LLC acquired a new position in GE Vernova during the 1st quarter worth $564,000.

Analysts Set New Price Targets

A number of brokerages have recently commented on GEV. Cowen reissued a “buy” rating on shares of GE Vernova in a report on Thursday, October 23rd. Barclays raised their target price on shares of GE Vernova from $710.00 to $720.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley upped their price target on shares of GE Vernova from $690.00 to $710.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Rothschild Redb cut shares of GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Finally, Redburn Partners set a $475.00 target price on GE Vernova in a report on Wednesday, October 15th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $616.08.

GE Vernova Price Performance

Shares of GEV opened at $630.70 on Monday. The firm’s 50 day moving average is $590.63 and its 200-day moving average is $576.47. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29. The stock has a market capitalization of $171.12 billion, a P/E ratio of 102.72, a P/E/G ratio of 4.70 and a beta of 1.71.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The business had revenue of $9.97 billion for 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%.The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.35) earnings per share. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, October 20th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Monday, October 20th. GE Vernova’s payout ratio is presently 16.29%.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.