Optas LLC Buys 2,241 Shares of GE Vernova Inc. $GEV

Optas LLC grew its stake in GE Vernova Inc. (NYSE:GEV) by 108.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,304 shares of the company’s stock after acquiring an additional 2,241 shares during the period. Optas LLC’s holdings in GE Vernova were worth $2,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of GEV. Norges Bank acquired a new position in GE Vernova in the 2nd quarter valued at about $1,809,220,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of GE Vernova by 273.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock worth $798,126,000 after acquiring an additional 1,104,747 shares during the period. AQR Capital Management LLC boosted its holdings in shares of GE Vernova by 252.9% during the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock worth $366,016,000 after acquiring an additional 892,549 shares during the period. Amundi grew its position in shares of GE Vernova by 109.0% in the first quarter. Amundi now owns 1,665,980 shares of the company’s stock valued at $496,013,000 after purchasing an additional 868,927 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of GE Vernova by 10,044.9% during the second quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock worth $445,773,000 after purchasing an additional 834,129 shares during the period.

GE Vernova Stock Down 0.2%

GEV opened at $660.53 on Wednesday. The stock has a market capitalization of $179.22 billion, a price-to-earnings ratio of 107.58, a P/E/G ratio of 5.05 and a beta of 1.71. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $731.00. The company has a 50-day simple moving average of $601.77 and a 200 day simple moving average of $592.10.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, October 22nd. The company reported $1.64 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 firm had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the prior year, the business earned ($0.35) earnings per share. GE Vernova’s quarterly revenue was up 11.8% compared to the same quarter last year. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be given a dividend of $0.50 per share. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, January 5th. GE Vernova’s dividend payout ratio (DPR) is presently 16.29%.

Wall Street Analysts Forecast Growth

GEV has been the subject of several recent research reports. Jefferies Financial Group set a $830.00 price target on GE Vernova in a research note on Monday. Susquehanna boosted their target price on shares of GE Vernova from $750.00 to $775.00 and gave the company a “positive” rating in a research report on Wednesday, December 10th. Oppenheimer upgraded shares of GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 price target on the stock in a research note on Wednesday, December 10th. Melius upgraded shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective for the company in a research note on Monday, September 15th. Finally, Mizuho cut their price objective on shares of GE Vernova from $677.00 to $660.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $691.11.

GE Vernova Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.