NEOS Investment Management LLC Boosts Holdings in GE Vernova Inc. (NYSE:GEV)

NEOS Investment Management LLC increased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 49.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,071 shares of the company’s stock after acquiring an additional 5,952 shares during the quarter. NEOS Investment Management LLC’s holdings in GE Vernova were worth $5,944,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GEV. Cedar Mountain Advisors LLC increased its position in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares in the last quarter. MRP Capital Investments LLC acquired a new position in GE Vernova during the fourth quarter worth approximately $25,000. Fairway Wealth LLC lifted its stake in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after buying an additional 55 shares during the last quarter. Pineridge Advisors LLC boosted its holdings in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares during the period. Finally, Prestige Wealth Management Group LLC grew its position in shares of GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 77 shares during the last quarter.

GE Vernova Trading Down 4.6 %

NYSE:GEV opened at $303.10 on Friday. The company has a market capitalization of $83.63 billion and a P/E ratio of 54.51. The firm has a 50-day moving average price of $347.66 and a two-hundred day moving average price of $320.99. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its Board of Directors has initiated a stock buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research firms recently commented on GEV. JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Baird R W raised GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. TD Cowen started coverage on GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price on the stock. Finally, Citigroup increased their price target on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $349.54.

GE Vernova 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.