GE Vernova Inc. (NYSE:GEV) Shares Sold by South Dakota Investment Council

South Dakota Investment Council cut its stake in shares of GE Vernova Inc. (NYSE:GEV) by 8.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 3,429 shares of the company’s stock after selling 300 shares during the period. South Dakota Investment Council’s holdings in GE Vernova were worth $1,128,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GEV. Howard Capital Management Group LLC purchased a new position in shares of GE Vernova in the third quarter valued at $213,000. Private Advisor Group LLC lifted its holdings in GE Vernova by 8.2% in the 3rd quarter. Private Advisor Group LLC now owns 20,098 shares of the company’s stock worth $5,125,000 after buying an additional 1,531 shares in the last quarter. Country Club Bank purchased a new position in GE Vernova in the 3rd quarter valued at about $201,000. Forsta AP Fonden grew its stake in shares of GE Vernova by 12.6% during the third quarter. Forsta AP Fonden now owns 57,131 shares of the company’s stock valued at $14,567,000 after acquiring an additional 6,400 shares in the last quarter. Finally, GHP Investment Advisors Inc. increased its position in shares of GE Vernova by 19.3% during the third quarter. GHP Investment Advisors Inc. now owns 401 shares of the company’s stock worth $102,000 after acquiring an additional 65 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GEV. The Goldman Sachs Group increased their price target on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Truist Financial raised their price target on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. BMO Capital Markets upped their price target on shares of GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Evercore ISI raised their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, Morgan Stanley boosted their target price on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $350.13.

GE Vernova Stock Down 8.9 %

GE Vernova stock opened at $327.68 on Monday. The firm has a 50-day moving average price of $364.41 and a two-hundred day moving average price of $301.20. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The firm has a market capitalization of $90.41 billion and a price-to-earnings ratio of 58.93.

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

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

GE Vernova announced that its board has authorized a stock repurchase program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership 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.