NEOS Investment Management LLC Increases Position in GE Vernova Inc. (NYSE:GEV)

NEOS Investment Management LLC boosted its position in GE Vernova Inc. (NYSE:GEV) by 49.1% in the 4th quarter, Holdings Channel reports. The fund owned 18,071 shares of the company’s stock after purchasing an additional 5,952 shares during the period. NEOS Investment Management LLC’s holdings in GE Vernova were worth $5,944,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GEV. UniSuper Management Pty Ltd boosted its holdings in shares of GE Vernova by 12.8% during the fourth quarter. UniSuper Management Pty Ltd now owns 18,167 shares of the company’s stock worth $5,976,000 after purchasing an additional 2,059 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in GE Vernova by 108.8% during the fourth quarter. Artisan Partners Limited Partnership now owns 699,942 shares of the company’s stock worth $230,232,000 after buying an additional 364,717 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in GE Vernova by 8.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 436,578 shares of the company’s stock worth $154,562,000 after buying an additional 35,164 shares during the last quarter. Worth Financial Advisory Group LLC purchased a new stake in GE Vernova in the 4th quarter valued at about $235,000. Finally, Graney & King LLC acquired a new position in shares of GE Vernova during the 4th quarter valued at about $242,000.

GE Vernova Price Performance

NYSE GEV opened at $303.10 on Friday. The company has a market capitalization of $83.63 billion and a price-to-earnings ratio of 54.51. GE Vernova Inc. has a 12 month low of $119.00 and a 12 month high of $447.50. The company’s fifty day moving average price is $347.66 and its two-hundred day moving average price is $320.99.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova declared that its Board of Directors has approved a stock repurchase program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms recently issued reports on GEV. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Wells Fargo & Company boosted their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Baird R W raised GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Finally, Wolfe Research started coverage on GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $349.54.

GE Vernova Company Profile

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.