GE Vernova Inc. (NYSE:GEV) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund grew its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 345,281 shares of the company's stock after purchasing an additional 7,460 shares during the quarter. New York State Common Retirement Fund owned approximately 0.13% of GE Vernova worth $113,573,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. FMR LLC grew its holdings in GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company's stock valued at $6,131,677,000 after purchasing an additional 584,208 shares during the period. State Street Corp lifted its position in shares of GE Vernova by 1.1% during the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company's stock valued at $2,660,695,000 after buying an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC purchased a new stake in GE Vernova in the 3rd quarter worth $2,507,296,000. Geode Capital Management LLC increased its holdings in GE Vernova by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company's stock worth $1,420,763,000 after acquiring an additional 80,479 shares in the last quarter. Finally, WCM Investment Management LLC raised its position in GE Vernova by 83.1% during the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company's stock worth $639,704,000 after acquiring an additional 1,161,901 shares during the period.

Analysts Set New Price Targets

GEV has been the topic of several research analyst reports. Evercore ISI lifted their target price on shares of GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. Citigroup lifted their price objective on GE Vernova from $361.00 to $437.00 and gave the stock a "neutral" rating in a report on Thursday, January 23rd. Robert W. Baird started coverage on GE Vernova in a report on Thursday, February 13th. They set an "outperform" rating and a $448.00 target price for the company. Bank of America lifted their price target on GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Finally, BMO Capital Markets increased their price objective on GE Vernova from $360.00 to $420.00 and gave the company an "outperform" rating in a research note on Tuesday, January 21st. Eight investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and a consensus price target of $350.13.

GE Vernova Stock Down 8.9 %

NYSE GEV traded down $32.00 during trading on Friday, hitting $327.68. The stock had a trading volume of 6,959,273 shares, compared to its average volume of 3,723,897. The company has a market capitalization of $90.41 billion and a PE ratio of 58.93. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The firm has a 50 day moving average price of $364.50 and a 200 day moving average price of $298.16.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results 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 return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The company's revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its board has approved a stock repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors 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 annualized dividend and a yield of 0.31%. GE Vernova's payout ratio 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.