NEOS Investment Management LLC Acquires 3,588 Shares of GE Vernova Inc. $GEV

NEOS Investment Management LLC raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 10.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,986 shares of the company’s stock after buying an additional 3,588 shares during the quarter. NEOS Investment Management LLC’s holdings in GE Vernova were worth $23,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in GEV. WFA Asset Management Corp bought a new stake in GE Vernova in the second quarter worth $29,000. Howard Hughes Medical Institute acquired a new stake in shares of GE Vernova in the second quarter worth $31,000. Bay Harbor Wealth Management LLC lifted its stake in shares of GE Vernova by 537.5% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the period. Monetary Management Group Inc. purchased a new position in GE Vernova during the second quarter valued at $32,000. Finally, Elevation Wealth Partners LLC boosted its stake in shares of GE Vernova by 47.2% in the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after acquiring an additional 17 shares during the last quarter.

Analyst Ratings Changes

GEV has been the topic of a number of research analyst reports. Evercore lifted their target price on GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. Weiss Ratings raised shares of GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Citigroup increased their target price on shares of GE Vernova from $708.00 to $779.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Bank of America increased their price target on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Finally, UBS Group reiterated a “buy” rating on shares of GE Vernova in a report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $788.24.

GE Vernova Stock Down 1.8%

Shares of NYSE:GEV opened at $801.76 on Tuesday. The firm has a fifty day moving average of $693.45 and a two-hundred day moving average of $636.37. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $846.00. The firm has a market capitalization of $216.10 billion, a P/E ratio of 45.04, a price-to-earnings-growth ratio of 3.19 and a beta of 1.67.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $10.40. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $10.21 billion. During the same quarter last year, the company posted $1.73 earnings per share. GE Vernova’s quarterly revenue was up 3.8% on a year-over-year basis. Equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 5th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, January 5th. GE Vernova’s dividend payout ratio is currently 11.24%.

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.