Optas LLC Boosts Position in GE Vernova Inc. (NYSE:GEV)

Optas LLC raised its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 2.7% during the fourth quarter, HoldingsChannel reports. The firm owned 1,959 shares of the company’s stock after purchasing an additional 51 shares during the period. Optas LLC’s holdings in GE Vernova were worth $644,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cedar Mountain Advisors LLC increased its position in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares during the period. Castleview Partners LLC acquired a new stake in GE Vernova in the 3rd quarter worth approximately $28,000. Riggs Asset Managment Co. Inc. boosted its stake in GE Vernova by 93.4% in the 4th quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock worth $39,000 after purchasing an additional 57 shares in the last quarter. Covestor Ltd boosted its stake in GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new stake in GE Vernova in the 3rd quarter worth approximately $31,000.

GE Vernova Stock Performance

NYSE:GEV opened at $361.01 on Tuesday. The stock has a fifty day moving average price of $355.29 and a two-hundred day moving average price of $280.05. The stock has a market capitalization of $99.51 billion and a price-to-earnings ratio of 64.93. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) 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 business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, analysts predict that GE Vernova Inc. will post 6.33 EPS for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

GE Vernova announced that its board has approved a stock repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

GEV has been the subject of a number of recent analyst reports. Citigroup lifted their target price on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova in a research note on Monday, October 21st. They set a “buy” rating and a $354.00 price objective for the company. Barclays lifted their price objective on shares of GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. The Goldman Sachs Group lifted their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, BMO Capital Markets lifted their price objective on shares of GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $342.94.

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.