Maryland State Retirement & Pension System Purchases 1,888 Shares of GE Vernova Inc. $GEV

Maryland State Retirement & Pension System increased its position in GE Vernova Inc. (NYSE:GEV) by 13.0% during the third quarter, Holdings Channel reports. The fund owned 16,397 shares of the company’s stock after purchasing an additional 1,888 shares during the quarter. Maryland State Retirement & Pension System’s holdings in GE Vernova were worth $15,585,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Cabot Wealth Management Inc. increased its stake in shares of GE Vernova by 6.5% in the third quarter. Cabot Wealth Management Inc. now owns 396 shares of the company’s stock valued at $376,000 after purchasing an additional 24 shares during the period. Ritholtz Wealth Management raised its holdings in shares of GE Vernova by 1.3% during the third quarter. Ritholtz Wealth Management now owns 8,633 shares of the company’s stock valued at $8,206,000 after buying an additional 111 shares during the last quarter. UNIVEST FINANCIAL Corp raised its holdings in shares of GE Vernova by 11.2% during the third quarter. UNIVEST FINANCIAL Corp now owns 695 shares of the company’s stock valued at $661,000 after buying an additional 70 shares during the last quarter. Joel Isaacson & Co. LLC boosted its position in shares of GE Vernova by 4.0% during the third quarter. Joel Isaacson & Co. LLC now owns 2,444 shares of the company’s stock worth $2,323,000 after buying an additional 95 shares during the period. Finally, Altman Advisors Inc. boosted its position in shares of GE Vernova by 0.6% during the third quarter. Altman Advisors Inc. now owns 2,707 shares of the company’s stock worth $2,573,000 after buying an additional 17 shares during the period.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $809.59 on Thursday. GE Vernova Inc. has a 52 week low of $530.16 and a 52 week high of $1,195.94. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.22. The stock has a market cap of $214.28 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 2.60 and a beta of 1.25. The company’s 50-day moving average price is $917.88 and its two-hundred day moving average price is $946.85.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.78. The company had revenue of $12.64 billion during the quarter, compared to analyst estimates of $11.99 billion. GE Vernova had a net margin of 23.54% and a return on equity of 46.50%. The business’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.64 EPS. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 16.13 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Tuesday, October 27th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, October 27th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is currently 5.25%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Oppenheimer reissued an “outperform” rating on shares of GE Vernova in a report on Wednesday, October 28th. HSBC raised GE Vernova from a “hold” rating to a “buy” rating and lifted their target price for the company from $1,040.00 to $1,100.00 in a research note on Friday, October 30th. BNP Paribas Exane reduced their price target on GE Vernova from $1,190.00 to $1,090.00 and set a “neutral” rating for the company in a research report on Thursday, August 20th. Citigroup decreased their price target on GE Vernova from $1,125.00 to $1,000.00 and set a “neutral” rating for the company in a research note on Thursday, October 29th. Finally, Guggenheim lowered their price target on GE Vernova from $1,450.00 to $1,400.00 and set a “buy” rating on the stock in a report on Monday, November 2nd. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average target price of $1,143.03.

Key GE Vernova News

These are some of the GEV news items that stood out recently:

• Positive Sentiment: J.P. Morgan said GE Vernova could withstand a slowdown in AI spending and retained its “overweight” rating. It lowered its price target to $1,000, still above the cited share price. GE Vernova Could Withstand a Slowing AI Spending Boom, Says J.P. Morgan
• Positive Sentiment: GE Vernova plans to invest $34.5 million to expand Louisiana transformer manufacturing capacity, positioning the business to serve rising grid-infrastructure demand. GE Vernova to spend $34.5M expanding Louisiana transformer manufacturing capacity
• Negative Sentiment: Despite the surge in total orders, electrification orders fell 9% year over year, a notable weak spot given the importance of grid equipment to the company’s growth outlook. GE Vernova’s Orders Jumped 96%

GE Vernova Profile

GE Vernova is an energy technology company that designs, manufactures and services equipment used to generate, transmit and distribute electricity. It became an independent public company in April 2024 after separating from General Electric, which had built its energy businesses over more than a century. The company operates through three main businesses: Power, Wind and Electrification. Its offerings include gas and steam turbines, hydropower technologies and related services; onshore and offshore wind turbines; and grid equipment, power-conversion systems and software used to support electricity networks.