Optas LLC Decreases Position in GE Vernova Inc. $GEV

Key Points

• Optas LLC decreased its stake by 45.3% in GE Vernova during Q4, selling 1,948 shares and retaining 2,356 shares valued at about $1.54 million.
• Several analysts raised price targets — including JPMorgan to $1,150 and Oppenheimer to $1,139 — and the consensus rating is Buy with an average target of $919.48.
• GE Vernova reported a major beat for the quarter with EPS of $13.39 versus $2.99 expected and revenue of $10.96B versus $10.21B, and paid a $0.50 quarterly dividend (annualized $2.00, yield ~0.2%).

Optas LLC decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 45.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,356 shares of the company's stock after selling 1,948 shares during the quarter. Optas LLC's holdings in GE Vernova were worth $1,540,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Breachway Investments LLC purchased a new stake in GE Vernova during the fourth quarter worth approximately $214,000. Novem Group lifted its stake in GE Vernova by 20.0% during the fourth quarter. Novem Group now owns 930 shares of the company's stock worth $608,000 after purchasing an additional 155 shares during the last quarter. Michael Brady & Co. LLC purchased a new stake in GE Vernova during the fourth quarter worth approximately $242,000. SageGuard Financial Group LLC purchased a new stake in GE Vernova during the fourth quarter worth approximately $1,660,000. Finally, RTD Financial Advisors Inc. purchased a new stake in GE Vernova during the fourth quarter worth approximately $218,000.

Analysts Set New Price Targets

Several research firms recently weighed in on GEV. JPMorgan Chase & Co. boosted their target price on GE Vernova from $1,000.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Thursday, April 16th. Oppenheimer boosted their target price on GE Vernova from $871.00 to $1,139.00 and gave the stock an "outperform" rating in a research note on Thursday. The Goldman Sachs Group lifted their price target on GE Vernova from $840.00 to $925.00 and gave the stock a "buy" rating in a research report on Thursday, January 29th. TD Cowen lifted their price target on GE Vernova from $680.00 to $780.00 and gave the stock a "buy" rating in a research report on Thursday, January 29th. Finally, Rothschild & Co Redburn raised GE Vernova from a "sell" rating to a "buy" rating and lifted their price target for the stock from $560.00 to $1,100.00 in a research report on Monday, March 9th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $919.48.

GE Vernova Stock Down 1.0%

GEV opened at $992.59 on Tuesday. The firm has a market cap of $266.87 billion, a price-to-earnings ratio of 55.76, a price-to-earnings-growth ratio of 3.92 and a beta of 1.43. GE Vernova Inc. has a 52 week low of $306.21 and a 52 week high of $1,009.89. The business's 50 day moving average is $874.05 and its two-hundred day moving average is $718.77.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, topping the consensus estimate of $2.99 by $10.40. The company had revenue of $10.96 billion for the quarter, compared to analyst estimates of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The firm's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.73 earnings per share. Equities analysts expect that GE Vernova Inc. will post 14.2 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's payout ratio is presently 11.24%.

GE Vernova Company 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.

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