Optas LLC Purchases 51 Shares of GE Vernova Inc. (NYSE:GEV)

Optas LLC grew its stake in GE Vernova Inc. (NYSE:GEV) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,959 shares of the company’s stock after acquiring an additional 51 shares during the period. Optas LLC’s holdings in GE Vernova were worth $644,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Cedar Mountain Advisors LLC lifted its position in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after acquiring an additional 39 shares during the last quarter. Castleview Partners LLC bought a new position in shares of GE Vernova during the third quarter worth approximately $28,000. Riggs Asset Managment Co. Inc. increased its holdings in shares of GE Vernova by 93.4% during the fourth quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock worth $39,000 after purchasing an additional 57 shares during the period. Covestor Ltd increased its holdings in shares of GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares during the period. Finally, Darwin Wealth Management LLC bought a new position in shares of GE Vernova during the third quarter worth approximately $31,000.

Analyst Ratings Changes

GEV has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Truist Financial lifted their price target on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Citigroup boosted their target price on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. The Goldman Sachs Group boosted their target price on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, TD Cowen assumed coverage on shares of GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $342.94.

GE Vernova Trading Down 3.2 %

Shares of GEV opened at $361.01 on Tuesday. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The firm’s 50-day moving average price is $355.29 and its 200-day moving average price is $280.05. The firm has a market capitalization of $99.51 billion and a price-to-earnings ratio of 64.93.

GE Vernova (NYSE:GEV) last issued its earnings results 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). The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s revenue was up 5.1% compared to the same quarter last year. On average, research analysts forecast that GE Vernova Inc. will post 6.33 EPS for the current fiscal year.

GE Vernova announced that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

GE Vernova Dividend Announcement

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

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.