GE Vernova Inc. $GEV Shares Bought by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund raised its position in shares of GE Vernova Inc. (NYSE:GEV) by 31.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,100 shares of the company’s stock after acquiring an additional 7,457 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in GE Vernova were worth $19,123,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GEV. WFA Asset Management Corp acquired a new position in GE Vernova in the 2nd quarter valued at $29,000. 1248 Management LLC acquired a new stake in GE Vernova during the 1st quarter worth $31,000. Howard Hughes Medical Institute purchased a new stake in shares of GE Vernova during the second quarter worth $31,000. Bay Harbor Wealth Management LLC raised its position in shares of GE Vernova by 537.5% in the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the last quarter. Finally, Monetary Management Group Inc. purchased a new position in shares of GE Vernova in the second quarter worth about $32,000.

GE Vernova Stock Performance

GEV stock opened at $629.26 on Friday. The firm has a market cap of $170.73 billion, a PE ratio of 102.49, a PEG ratio of 2.77 and a beta of 1.67. The firm’s 50 day moving average price is $619.83 and its 200-day moving average price is $605.60. GE Vernova Inc. has a one year low of $252.25 and a one year high of $731.00.

GE Vernova (NYSE:GEV) last posted its 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 analyst estimates of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.35) EPS. Equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be paid 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 positive change from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, January 5th. GE Vernova’s payout ratio is currently 32.57%.

Analysts Set New Price Targets

Several analysts recently issued reports on GEV shares. Rothschild & Co Redburn reaffirmed a “sell” rating and set a $475.00 price objective on shares of GE Vernova in a research note on Wednesday, October 15th. Wolfe Research upgraded GE Vernova from a “peer perform” rating to a “buy” rating in a report on Wednesday, December 10th. Redburn Partners set a $475.00 price target on GE Vernova in a research report on Wednesday, October 15th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Finally, Evercore ISI began coverage on GE Vernova in a research note on Monday, December 15th. They set an “outperform” rating and a $860.00 price objective on the stock. Four analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $689.00.

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.