Meeder Asset Management Inc. Has $1.23 Million Holdings in GE Vernova Inc. $GEV

Meeder Asset Management Inc. increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 5,614.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,000 shares of the company’s stock after purchasing an additional 1,965 shares during the quarter. Meeder Asset Management Inc.’s holdings in GE Vernova were worth $1,230,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GEV. Citizens Financial Group Inc. RI raised its holdings in GE Vernova by 30.7% during the third quarter. Citizens Financial Group Inc. RI now owns 6,298 shares of the company’s stock worth $3,873,000 after acquiring an additional 1,478 shares in the last quarter. Tema Etfs LLC grew its stake in GE Vernova by 13.9% in the third quarter. Tema Etfs LLC now owns 11,341 shares of the company’s stock valued at $6,974,000 after purchasing an additional 1,386 shares in the last quarter. Continuum Wealth Advisors LLC increased its position in shares of GE Vernova by 52.9% during the 3rd quarter. Continuum Wealth Advisors LLC now owns 1,044 shares of the company’s stock worth $642,000 after purchasing an additional 361 shares during the last quarter. Warwick Investment Management Inc. raised its stake in shares of GE Vernova by 14.4% during the 3rd quarter. Warwick Investment Management Inc. now owns 446 shares of the company’s stock worth $274,000 after purchasing an additional 56 shares in the last quarter. Finally, Associated Banc Corp raised its stake in shares of GE Vernova by 50.5% during the 3rd quarter. Associated Banc Corp now owns 826 shares of the company’s stock worth $508,000 after purchasing an additional 277 shares in the last quarter.

Analysts Set New Price Targets

Several research firms recently weighed in on GEV. Susquehanna raised their target price on shares of GE Vernova from $750.00 to $775.00 and gave the company a “positive” rating in a research note on Wednesday, December 10th. Morgan Stanley lifted their price objective on shares of GE Vernova from $710.00 to $822.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Bank of America boosted their price objective on shares of GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Jefferies Financial Group set a $830.00 target price on shares of GE Vernova in a research note on Monday, December 22nd. Finally, Melius Research set a $740.00 price target on GE Vernova and gave the stock a “buy” rating in a report on Monday, September 15th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $689.00.

GE Vernova Price Performance

Shares of GEV opened at $622.69 on Monday. The company’s 50-day moving average is $620.58 and its 200-day moving average is $607.85. The firm has a market capitalization of $168.95 billion, a PE ratio of 101.41, a PEG ratio of 2.61 and a beta of 1.67. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $731.00.

GE Vernova (NYSE:GEV) last announced 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). The company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.35) EPS. Analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 0.3%. GE Vernova’s dividend payout ratio (DPR) is currently 32.57%.

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.