GE Vernova Inc. $GEV Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lifted its stake in GE Vernova Inc. (NYSE:GEV) by 261.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 8,659 shares of the company’s stock after purchasing an additional 6,261 shares during the period. Illinois Municipal Retirement Fund’s holdings in GE Vernova were worth $4,582,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GEV. IMA Advisory Services Inc. acquired a new stake in shares of GE Vernova in the 1st quarter worth $27,000. WFA Asset Management Corp acquired a new position in shares of GE Vernova during the 2nd quarter valued at about $29,000. Mowery & Schoenfeld Wealth Management LLC increased its position in GE Vernova by 115.2% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock worth $30,000 after purchasing an additional 53 shares during the last quarter. 1248 Management LLC acquired a new stake in GE Vernova during the first quarter worth about $31,000. Finally, Saudi Central Bank purchased a new position in GE Vernova during the first quarter worth about $33,000.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the transaction, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GEV shares. Rothschild Redb downgraded shares of GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Royal Bank Of Canada increased their price objective on GE Vernova from $605.00 to $630.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 23rd. Cowen restated a “buy” rating on shares of GE Vernova in a research report on Thursday, October 23rd. Barclays increased their price target on GE Vernova from $706.00 to $710.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Finally, Redburn Partners set a $475.00 price objective on shares of GE Vernova in a report on Wednesday, October 15th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $607.81.

GE Vernova Stock Down 0.2%

GE Vernova stock opened at $575.07 on Thursday. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29. The firm has a market cap of $156.03 billion, a PE ratio of 93.66, a price-to-earnings-growth ratio of 4.28 and a beta of 1.68. The company’s 50 day moving average is $601.77 and its two-hundred day moving average is $554.47.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same quarter in the previous year, the business posted ($0.35) earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 16.29%.

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.