New Mexico Educational Retirement Board Trims Stock Holdings in GE Vernova Inc. (NYSE:GEV)

New Mexico Educational Retirement Board trimmed its position in GE Vernova Inc. (NYSE:GEV) by 2.2% during the 4th quarter, Holdings Channel.com reports. 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.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. grew its stake in GE Vernova by 3.5% in the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after purchasing an additional 27 shares during the period. Hengehold Capital Management LLC grew its stake in GE Vernova by 2.4% in the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after purchasing an additional 29 shares during the period. AdvisorNet Financial Inc grew its stake in GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after purchasing an additional 30 shares during the period. Mutual Advisors LLC grew its stake in shares of GE Vernova by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after acquiring an additional 31 shares during the last quarter. Finally, Pittenger & Anderson Inc. grew its stake in shares of GE Vernova by 28.0% in the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock worth $41,000 after acquiring an additional 35 shares during the last quarter.

GE Vernova Stock Down 0.8 %

GEV stock opened at $367.43 on Friday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The stock has a market cap of $101.28 billion and a P/E ratio of 66.08. The business’s 50-day moving average price is $361.32 and its 200-day moving average price is $291.28.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share 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 company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its board has approved a share buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. GE Vernova’s dividend payout ratio is presently 17.99%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GEV shares. The Goldman Sachs Group increased their target price on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Wolfe Research started coverage on GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 target price on the stock. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price on the stock. in a research note on Friday, January 24th. Morgan Stanley increased their target price on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, JPMorgan Chase & Co. increased their price objective on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, twenty have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $350.13.

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.