GE Vernova Inc. $GEV Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 1.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 118,293 shares of the company’s stock after selling 2,198 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in GE Vernova were worth $72,738,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bay Harbor Wealth Management LLC grew its holdings in shares of GE Vernova by 537.5% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the period. Elevation Wealth Partners LLC boosted its position in GE Vernova by 47.2% during the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after purchasing an additional 17 shares in the last quarter. WFA Asset Management Corp purchased a new stake in shares of GE Vernova in the 2nd quarter worth about $29,000. Howard Hughes Medical Institute purchased a new stake in shares of GE Vernova in the second quarter valued at about $31,000. Finally, Monetary Management Group Inc. acquired a new stake in GE Vernova during the 2nd quarter valued at $32,000.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GEV. Rothschild & Co Redburn reissued a “sell” rating and issued a $475.00 price objective on shares of GE Vernova in a research report on Wednesday, October 15th. Rothschild Redb lowered GE Vernova from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Redburn Partners set a $475.00 target price on GE Vernova in a report on Wednesday, October 15th. JPMorgan Chase & Co. restated an “overweight” rating on shares of GE Vernova in a report on Wednesday, December 10th. Finally, Jefferies Financial Group set a $830.00 target price on shares of GE Vernova in a research report on Monday, December 22nd. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $701.62.

GE Vernova Price Performance

Shares of NYSE GEV opened at $657.26 on Friday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $731.00. The company has a market capitalization of $178.33 billion, a price-to-earnings ratio of 107.05, a PEG ratio of 2.79 and a beta of 1.67. The business has a 50-day moving average of $639.17 and a 200-day moving average of $617.23.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The company had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the prior year, the company earned ($0.35) EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. Research analysts expect that GE Vernova Inc. will post 6.59 EPS 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 dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, January 5th. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. GE Vernova’s dividend payout ratio is presently 32.57%.

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.