Optas LLC Raises Stock Holdings in GE Vernova Inc. $GEV

Optas LLC increased its position in GE Vernova Inc. (NYSE:GEV) by 5.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,063 shares of the company’s stock after acquiring an additional 103 shares during the period. Optas LLC’s holdings in GE Vernova were worth $1,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new position in GE Vernova in the 1st quarter worth $912,000. Pines Wealth Management LLC acquired a new position in GE Vernova during the second quarter valued at $408,000. Resona Asset Management Co. Ltd. lifted its position in GE Vernova by 8.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock valued at $26,229,000 after purchasing an additional 6,551 shares during the period. Lockheed Martin Investment Management Co. acquired a new position in GE Vernova during the first quarter valued at $458,000. Finally, Golden State Wealth Management LLC lifted its position in GE Vernova by 201.7% during the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company’s stock valued at $373,000 after purchasing an additional 817 shares during the period.

Analyst Ratings Changes

A number of research analysts recently issued reports on GEV shares. Jefferies Financial Group boosted their target price on shares of GE Vernova from $658.00 to $668.00 and gave the company a “hold” rating in a research report on Friday, September 12th. Seaport Res Ptn upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, July 10th. Mizuho downgraded shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 target price for the company. in a research report on Monday, July 28th. BMO Capital Markets boosted their target price on shares of GE Vernova from $590.00 to $690.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Finally, Wolfe Research downgraded shares of GE Vernova from an “outperform” rating to a “peer perform” rating in a research report on Friday, June 13th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $598.50.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $625.47 on Thursday. The firm has a 50-day simple moving average of $621.18 and a two-hundred day simple moving average of $504.60. The company has a market cap of $170.27 billion, a P/E ratio of 150.72, a price-to-earnings-growth ratio of 4.41 and a beta of 1.72. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is currently 24.10%.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is owned by corporate insiders.

About GE Vernova

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.