State of Tennessee Department of Treasury Sells 5,877 Shares of GE Vernova Inc. (NYSE:GEV)

State of Tennessee Department of Treasury decreased its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 5.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,845 shares of the company's stock after selling 5,877 shares during the period. State of Tennessee Department of Treasury's holdings in GE Vernova were worth $32,184,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cedar Mountain Advisors LLC grew 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 valued at $25,000 after buying an additional 39 shares during the last quarter. MRP Capital Investments LLC purchased a new stake in GE Vernova during the 4th quarter valued at $25,000. Fairway Wealth LLC increased its holdings in shares of GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Pineridge Advisors LLC raised 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 worth $27,000 after purchasing an additional 69 shares during the last quarter. Finally, Pinpoint Asset Management Ltd purchased a new position in shares of GE Vernova in the fourth quarter worth $30,000.

Analysts Set New Price Targets

GEV has been the subject of several research analyst reports. Marathon Capitl upgraded GE Vernova to a "strong-buy" rating in a report on Friday, January 31st. BMO Capital Markets reduced their price target on shares of GE Vernova from $471.00 to $420.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. Jefferies Financial Group increased their price objective on shares of GE Vernova from $391.00 to $413.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Truist Financial set a $440.00 target price on shares of GE Vernova in a research report on Thursday, March 27th. Finally, TD Cowen decreased their target price on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a research note on Thursday. Six investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, GE Vernova has an average rating of "Moderate Buy" and an average price target of $369.22.

GE Vernova Stock Up 3.4 %

GE Vernova stock traded up $12.13 during midday trading on Friday, reaching $372.62. 3,956,787 shares of the stock traded hands, compared to its average volume of 3,359,003. The stock has a market cap of $101.85 billion and a P/E ratio of 67.02. The stock's fifty day moving average is $318.90 and its 200-day moving average is $332.43. GE Vernova Inc. has a 12 month low of $149.42 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.46. The firm had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. During the same period last year, the firm posted ($0.47) earnings per share. On average, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.27%. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.

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.