Ontario Teachers Pension Plan Board Purchases Shares of 5,181 GE Vernova Inc. (NYSE:GEV)

Ontario Teachers Pension Plan Board acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,181 shares of the company’s stock, valued at approximately $1,704,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GEV. MRP Capital Investments LLC bought a new stake in GE Vernova in the 4th quarter valued at $25,000. Cedar Mountain Advisors LLC lifted its holdings in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares in the last quarter. Fairway Wealth LLC boosted its position in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares during the period. Pineridge Advisors LLC grew its stake in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares in the last quarter. Finally, Pinpoint Asset Management Ltd bought a new position in GE Vernova during the fourth quarter worth about $30,000.

GE Vernova Trading Up 2.0 %

Shares of GEV stock opened at $328.72 on Wednesday. GE Vernova Inc. has a 1-year low of $128.25 and a 1-year high of $447.50. The stock has a market cap of $89.85 billion and a price-to-earnings ratio of 59.12. The stock has a 50-day moving average of $324.89 and a 200-day moving average of $328.68.

GE Vernova (NYSE:GEV) last released its earnings results 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). The firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be issued a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.30%. GE Vernova’s payout ratio is 17.99%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GEV shares. New Street Research set a $380.00 target price on shares of GE Vernova in a research report on Wednesday, March 5th. CICC Research assumed coverage on GE Vernova in a research note on Wednesday, February 19th. They issued an “outperform” rating for the company. Susquehanna assumed coverage on GE Vernova in a research note on Wednesday, April 2nd. They set a “positive” rating and a $370.00 price objective on the stock. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 target price for the company in a research report on Wednesday, March 5th. Finally, BMO Capital Markets decreased their price target on GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Seven research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $343.66.

About GE Vernova

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.