New Mexico Educational Retirement Board Sells 300 Shares of GE Vernova Inc. (NYSE:GEV)

New Mexico Educational Retirement Board reduced its position in GE Vernova Inc. (NYSE:GEV) by 2.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 13,119 shares of the company’s stock after selling 300 shares during the period. New Mexico Educational Retirement Board’s holdings in GE Vernova were worth $4,315,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its stake in GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after acquiring an additional 584,208 shares during the period. State Street Corp raised its stake in GE Vernova by 1.1% in the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after acquiring an additional 118,184 shares during the period. Mountaineer Partners Management LLC bought a new stake in GE Vernova in the 3rd quarter valued at about $2,507,296,000. Geode Capital Management LLC grew its holdings in GE Vernova by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after buying an additional 80,479 shares in the last quarter. Finally, WCM Investment Management LLC grew its holdings in GE Vernova by 83.1% during the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after buying an additional 1,161,901 shares in the last quarter.

GE Vernova Stock Performance

Shares of GEV stock opened at $367.43 on Friday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The stock has a 50 day moving average price of $361.32 and a two-hundred day moving average price of $291.28. The company has a market capitalization of $101.28 billion and a P/E ratio of 66.08.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were issued 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 is presently 17.99%.

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

Analyst Ratings Changes

A number of research analysts have weighed in on GEV shares. Truist Financial lifted their target price on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Barclays lifted their target price on GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $453.00 target price on shares of GE Vernova in a report on Tuesday, January 28th. Bank of America lifted their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lifted their target price on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $350.13.

GE Vernova Company 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.