State of Wyoming Purchases Shares of 1,078 GE Vernova Inc. $GEV

State of Wyoming acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,078 shares of the company’s stock, valued at approximately $570,000.

Several other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in GE Vernova in the 2nd quarter valued at $1,809,220,000. Arrowstreet Capital Limited Partnership increased its stake in shares of GE Vernova by 273.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock valued at $798,126,000 after buying an additional 1,104,747 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of GE Vernova by 252.9% in the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock valued at $366,016,000 after buying an additional 892,549 shares during the last quarter. Amundi lifted its position in GE Vernova by 109.0% during the 1st quarter. Amundi now owns 1,665,980 shares of the company’s stock worth $496,013,000 after buying an additional 868,927 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in GE Vernova by 10,044.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock worth $445,773,000 after acquiring an additional 834,129 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GEV shares. Citigroup dropped their target price on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Melius upgraded shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective for the company in a research report on Monday, September 15th. Wolfe Research upgraded GE Vernova from a “peer perform” rating to a “buy” rating in a research report on Wednesday, December 10th. Morgan Stanley lifted their target price on GE Vernova from $690.00 to $710.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $654.00 price target on shares of GE Vernova in a research note on Monday, October 27th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $662.15.

GE Vernova Stock Up 1.6%

Shares of NYSE GEV opened at $682.18 on Tuesday. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $731.00. The stock has a market cap of $185.09 billion, a price-to-earnings ratio of 111.10, a P/E/G ratio of 5.12 and a beta of 1.71. The company’s fifty day moving average is $598.65 and its 200-day moving average is $584.99.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the previous year, the company posted ($0.35) earnings per share. GE Vernova’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be given a dividend of $0.50 per share. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, January 5th. This represents a $2.00 annualized dividend and a yield of 0.3%. GE Vernova’s payout ratio is presently 32.57%.

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.