New Mexico Educational Retirement Board Cuts Position in GE Vernova Inc. $GEV

New Mexico Educational Retirement Board lowered its holdings in GE Vernova Inc. (NYSE:GEV) by 4.6% in the third quarter, Holdings Channel.com reports. The fund owned 12,319 shares of the company’s stock after selling 600 shares during the quarter. New Mexico Educational Retirement Board’s holdings in GE Vernova were worth $7,575,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Northwest Wealth Management LLC increased its holdings in shares of GE Vernova by 3.6% in the 3rd quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock valued at $286,000 after purchasing an additional 16 shares in the last quarter. Traphagen Investment Advisors LLC boosted its holdings in GE Vernova by 1.2% during the third quarter. Traphagen Investment Advisors LLC now owns 1,418 shares of the company’s stock worth $872,000 after buying an additional 17 shares in the last quarter. Navigoe LLC boosted its holdings in GE Vernova by 20.2% during the third quarter. Navigoe LLC now owns 101 shares of the company’s stock worth $62,000 after buying an additional 17 shares in the last quarter. Elevation Wealth Partners LLC grew its position in GE Vernova by 47.2% during the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after buying an additional 17 shares during the period. Finally, Tritonpoint Wealth LLC grew its position in GE Vernova by 1.7% during the third quarter. Tritonpoint Wealth LLC now owns 994 shares of the company’s stock worth $611,000 after buying an additional 17 shares during the period.

Analyst Ratings Changes

A number of research firms have recently issued reports on GEV. BMO Capital Markets reiterated an “outperform” rating and set a $785.00 price target on shares of GE Vernova in a research report on Thursday, January 29th. Jefferies Financial Group restated a “buy” rating and issued a $930.00 price target on shares of GE Vernova in a report on Thursday, January 29th. Citigroup raised their price objective on GE Vernova from $708.00 to $779.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Erste Group Bank started coverage on GE Vernova in a report on Thursday, March 5th. They set a “buy” rating for the company. Finally, Bank of America boosted their target price on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $831.29.

GE Vernova Price Performance

Shares of NYSE GEV opened at $856.81 on Thursday. The firm’s 50-day moving average is $769.86 and its two-hundred day moving average is $668.41. The company has a market capitalization of $230.93 billion, a PE ratio of 48.14, a price-to-earnings-growth ratio of 3.36 and a beta of 1.45. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $894.93.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $10.40. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. During the same period last year, the company posted $1.73 EPS. The company’s revenue was up 3.8% on a year-over-year basis. On average, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s dividend payout ratio is 11.24%.

GE Vernova Profile

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.