California Public Employees Retirement System Sells 28,512 Shares of GE Vernova Inc. (NYSE:GEV)

California Public Employees Retirement System lowered its position in shares of GE Vernova Inc. (NYSE:GEV) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 441,709 shares of the company’s stock after selling 28,512 shares during the quarter. California Public Employees Retirement System owned approximately 0.16% of GE Vernova worth $145,291,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Armstrong Advisory Group Inc. lifted its stake in shares of GE Vernova by 3.5% in the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after purchasing an additional 27 shares during the period. Hengehold Capital Management LLC grew its stake in shares of GE Vernova by 2.4% during 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 increased its holdings in GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after purchasing an additional 30 shares during the last quarter. Mutual Advisors LLC lifted its stake in GE Vernova by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after buying an additional 31 shares during the period. Finally, WASHINGTON TRUST Co boosted its holdings in GE Vernova by 1.9% during the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock worth $560,000 after buying an additional 31 shares during the last quarter.

GE Vernova Trading Down 0.1 %

NYSE:GEV opened at $302.71 on Monday. The stock has a market capitalization of $83.52 billion and a PE ratio of 54.44. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year high of $447.50. The firm has a fifty day simple moving average of $345.68 and a 200 day simple moving average of $323.33.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The business’s revenue was up 5.1% on a year-over-year basis. On average, equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Royal Bank of Canada reduced their price target on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Wells Fargo & Company upped their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Citigroup lifted their target price on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, CICC Research began coverage on GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating on the stock. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $349.54.

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.