Optas LLC Has $2.65 Million Holdings in GE Vernova Inc. $GEV

Optas LLC lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 108.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Vontobel Holding Ltd. raised its stake in shares of GE Vernova by 45.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 32,728 shares of the company’s stock valued at $20,124,000 after purchasing an additional 10,208 shares during the period. DAVENPORT & Co LLC grew its holdings in shares of GE Vernova by 3.0% during the third quarter. DAVENPORT & Co LLC now owns 6,999 shares of the company’s stock worth $4,304,000 after buying an additional 206 shares in the last quarter. Revisor Wealth Management LLC raised its position in GE Vernova by 8.5% in the 3rd quarter. Revisor Wealth Management LLC now owns 686 shares of the company’s stock valued at $435,000 after buying an additional 54 shares during the last quarter. Integris Wealth Management LLC acquired a new stake in GE Vernova in the 3rd quarter valued at approximately $217,000. Finally, Tactive Advisors LLC lifted its stake in GE Vernova by 4.1% in the 3rd quarter. Tactive Advisors LLC now owns 1,281 shares of the company’s stock valued at $788,000 after acquiring an additional 51 shares in the last quarter.

GE Vernova Price Performance

Shares of GEV stock opened at $660.53 on Wednesday. The company has a fifty day moving average price of $601.77 and a two-hundred day moving average price of $592.10. GE Vernova Inc. has a one year low of $252.25 and a one year high of $731.00. The stock has a market cap of $179.22 billion, a P/E ratio of 107.58, a P/E/G ratio of 5.05 and a beta of 1.71.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 previous year, the company posted ($0.35) earnings per share. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. GE Vernova’s payout ratio is 16.29%.

Wall Street Analyst Weigh In

GEV has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GE Vernova in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. The Goldman Sachs Group lifted their price target on shares of GE Vernova from $735.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Seaport Res Ptn downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. Finally, Wolfe Research upgraded GE Vernova from a “peer perform” rating to a “buy” rating in a report on Wednesday, December 10th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $691.11.

About GE Vernova

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.