Louisiana State Employees Retirement System Lowers Stake in GE Vernova Inc. (NYSE:GEV)

Louisiana State Employees Retirement System cut its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 4.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,800 shares of the company’s stock after selling 700 shares during the period. Louisiana State Employees Retirement System’s holdings in GE Vernova were worth $4,868,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Cedar Mountain Advisors LLC grew its stake in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after acquiring an additional 39 shares during the period. Pineridge Advisors LLC lifted its holdings in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after purchasing an additional 69 shares in the last quarter. Castleview Partners LLC purchased a new position in GE Vernova during the third quarter valued at $28,000. Covestor Ltd increased its stake in shares of GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in shares of GE Vernova during the 3rd quarter worth about $31,000.

Wall Street Analyst Weigh In

Several equities research analysts have commented on GEV shares. The Goldman Sachs Group boosted their price objective on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Citigroup boosted their price target on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. BMO Capital Markets raised their price objective on GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Jefferies Financial Group upped their target price on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $453.00 target price on shares of GE Vernova in a research report on Tuesday, January 28th. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $346.22.

GE Vernova Price Performance

Shares of GEV stock opened at $369.76 on Thursday. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The firm has a market cap of $101.92 billion and a PE ratio of 66.50. The company has a 50-day moving average of $360.36 and a two-hundred day moving average of $290.17.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. GE Vernova’s payout ratio is presently 17.99%.

GE Vernova declared that its Board of Directors has approved a share repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.