Teachers Retirement System of The State of Kentucky Sells 3,603 Shares of GE Vernova Inc. $GEV

Teachers Retirement System of The State of Kentucky cut its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 11.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,214 shares of the company’s stock after selling 3,603 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in GE Vernova were worth $23,756,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. World Investment Advisors raised its position in GE Vernova by 19.9% in the fourth quarter. World Investment Advisors now owns 13,497 shares of the company’s stock worth $8,821,000 after purchasing an additional 2,241 shares in the last quarter. Merit Financial Group LLC boosted its holdings in GE Vernova by 17.4% during the fourth quarter. Merit Financial Group LLC now owns 15,080 shares of the company’s stock valued at $9,856,000 after purchasing an additional 2,230 shares in the last quarter. Vest Financial LLC boosted its holdings in GE Vernova by 56.7% during the fourth quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock valued at $43,260,000 after purchasing an additional 23,956 shares in the last quarter. Riverbend Wealth Management LLC bought a new stake in shares of GE Vernova in the 4th quarter valued at approximately $567,000. Finally, RiverFront Investment Group LLC grew its stake in shares of GE Vernova by 239.2% in the 4th quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock valued at $1,432,000 after purchasing an additional 1,545 shares during the period.

Wall Street Analysts Forecast Growth

GEV has been the subject of several analyst reports. Sanford C. Bernstein initiated coverage on GE Vernova in a research report on Tuesday, June 16th. They set an “outperform” rating and a $1,206.00 target price for the company. Zacks Research cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Oppenheimer set a $1,303.00 price objective on GE Vernova in a research note on Thursday, April 23rd. Wells Fargo & Company lifted their price objective on GE Vernova from $831.00 to $896.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Finally, BNP Paribas Exane downgraded shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 target price on the stock. in a research note on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,089.88.

Insider Buying and Selling at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the transaction, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the transaction, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by company insiders.

GE Vernova Stock Down 0.1%

NYSE GEV opened at $1,090.64 on Monday. The firm has a market cap of $293.08 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. GE Vernova Inc. has a one year low of $530.16 and a one year high of $1,195.94. The stock’s 50 day simple moving average is $1,040.14 and its 200 day simple moving average is $896.97. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating the consensus estimate of $1.95 by $15.49. The business had revenue of $9.34 billion for the quarter, compared to analysts’ expectations of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.GE Vernova’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.91 EPS. As a group, sell-side analysts forecast that GE Vernova Inc. will post 15.06 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova’s dividend payout ratio is presently 5.83%.

GE Vernova Company 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.