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

Louisiana State Employees Retirement System lessened its holdings in GE Vernova Inc. (NYSE:GEV) by 4.5% in the 4th quarter, according to its most recent 13F 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 have also modified their holdings of GEV. Schear Investment Advisers LLC grew its position in shares of GE Vernova by 10.4% during the fourth quarter. Schear Investment Advisers LLC now owns 9,399 shares of the company’s stock worth $3,092,000 after buying an additional 888 shares in the last quarter. Leavell Investment Management Inc. lifted its stake in GE Vernova by 70.5% in the fourth quarter. Leavell Investment Management Inc. now owns 6,347 shares of the company’s stock worth $2,089,000 after acquiring an additional 2,624 shares during the last quarter. Quent Capital LLC grew its holdings in GE Vernova by 5.5% during the 4th quarter. Quent Capital LLC now owns 748 shares of the company’s stock worth $246,000 after acquiring an additional 39 shares in the last quarter. Cardinal Strategic Wealth Guidance purchased a new stake in shares of GE Vernova in the 4th quarter valued at approximately $266,000. Finally, Sovran Advisors LLC purchased a new stake in shares of GE Vernova in the 4th quarter valued at approximately $281,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Jefferies Financial Group boosted their target price on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. upped their price objective on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Evercore ISI increased their price objective on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Johnson Rice started coverage on GE Vernova in a research note on Friday, February 7th. They set a “buy” rating and a $425.00 target price for the company. Finally, Bank of America increased their price target on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $346.22.

GE Vernova Trading Down 0.8 %

Shares of GEV stock opened at $369.76 on Thursday. The company has a market capitalization of $101.92 billion and a P/E ratio of 66.50. The business’s 50 day moving average is $360.36 and its two-hundred day moving average is $290.17. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50.

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). The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

GE Vernova Dividend Announcement

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

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.