New York State Common Retirement Fund Has $113.57 Million Holdings in GE Vernova Inc. (NYSE:GEV)

New York State Common Retirement Fund increased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 345,281 shares of the company’s stock after purchasing an additional 7,460 shares during the period. New York State Common Retirement Fund owned approximately 0.13% of GE Vernova worth $113,573,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GEV. Creative Planning grew its stake in shares of GE Vernova by 11.4% during the third quarter. Creative Planning now owns 52,641 shares of the company’s stock worth $13,422,000 after purchasing an additional 5,382 shares during the period. Howard Capital Management Group LLC bought a new stake in shares of GE Vernova in the third quarter worth about $213,000. Stratos Wealth Advisors LLC bought a new stake in shares of GE Vernova in the third quarter worth about $305,000. Blue Trust Inc. bought a new stake in shares of GE Vernova in the third quarter worth about $602,000. Finally, Resonant Capital Advisors LLC bought a new stake in shares of GE Vernova in the third quarter worth about $240,000.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GEV shares. Barclays increased their price target on GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Jefferies Financial Group increased their price target on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Baird R W upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Evercore ISI increased their price target on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, TD Cowen assumed coverage on GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $350.13.

GE Vernova Stock Up 1.4 %

GEV opened at $372.59 on Wednesday. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50. The stock has a market cap of $102.70 billion and a price-to-earnings ratio of 67.01. The business has a 50 day moving average of $363.28 and a 200-day moving average of $297.19.

GE Vernova (NYSE:GEV) last released 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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, 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 disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. GE Vernova’s payout ratio is 17.99%.

GE Vernova announced that its board has authorized a stock buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management 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.