NEOS Investment Management LLC Has $23.36 Million Stake in GE Vernova Inc. $GEV

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

A number of other hedge funds have also made changes to their positions in the stock. Good Life Advisors LLC lifted its position in shares of GE Vernova by 1.0% during the 2nd quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock worth $875,000 after purchasing an additional 16 shares during the last quarter. Bell Investment Advisors Inc boosted its holdings in GE Vernova by 6.7% during the second quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock valued at $135,000 after purchasing an additional 16 shares in the last quarter. Northwest Wealth Management LLC lifted its holdings in GE Vernova by 3.6% during the 3rd quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock valued at $286,000 after purchasing an additional 16 shares during the last quarter. AMG National Trust Bank raised its position in shares of GE Vernova by 1.5% during the 2nd quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock valued at $606,000 after acquiring an additional 17 shares during the last quarter. Finally, Traphagen Investment Advisors LLC lifted its stake in shares of GE Vernova by 1.2% in the 3rd quarter. Traphagen Investment Advisors LLC now owns 1,418 shares of the company’s stock valued at $872,000 after purchasing an additional 17 shares during the period.

Wall Street Analysts Forecast Growth

GEV has been the topic of several analyst reports. TD Cowen increased their target price on GE Vernova from $680.00 to $780.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price target for the company in a research note on Friday, January 30th. Mizuho set a $714.00 price objective on shares of GE Vernova in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. restated an “overweight” rating on shares of GE Vernova in a report on Wednesday, December 10th. Finally, Barclays reaffirmed an “overweight” rating and issued a $849.00 target price on shares of GE Vernova in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $788.24.

GE Vernova Price Performance

Shares of NYSE GEV opened at $801.76 on Tuesday. The stock has a market capitalization of $216.10 billion, a PE ratio of 45.04, a P/E/G ratio of 3.19 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 $846.00. The business has a fifty day moving average price of $693.45 and a two-hundred day moving average price of $636.37.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $10.21 billion. During the same quarter last year, the business earned $1.73 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

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