MUFG Securities EMEA plc Trims Position in GE Vernova Inc. (NYSE:GEV)

MUFG Securities EMEA plc trimmed its holdings in GE Vernova Inc. (NYSE:GEV) by 97.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 5,000 shares of the company’s stock after selling 168,299 shares during the period. MUFG Securities EMEA plc’s holdings in GE Vernova were worth $1,526,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Westover Capital Advisors LLC increased its holdings in GE Vernova by 2.3% in the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company’s stock valued at $345,000 after buying an additional 25 shares in the last quarter. Stonebridge Financial Group LLC increased its holdings in GE Vernova by 8.9% in the first quarter. Stonebridge Financial Group LLC now owns 344 shares of the company’s stock valued at $105,000 after buying an additional 28 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in GE Vernova by 0.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company’s stock valued at $2,598,000 after buying an additional 30 shares in the last quarter. Hemington Wealth Management increased its holdings in GE Vernova by 20.3% in the first quarter. Hemington Wealth Management now owns 178 shares of the company’s stock valued at $54,000 after buying an additional 30 shares in the last quarter. Finally, Fulcrum Equity Management increased its holdings in GE Vernova by 3.6% in the fourth quarter. Fulcrum Equity Management now owns 886 shares of the company’s stock valued at $291,000 after buying an additional 31 shares in the last quarter.

GE Vernova Stock Up 0.5%

NYSE:GEV opened at $648.94 on Friday. The company has a market cap of $176.65 billion, a P/E ratio of 156.37, a P/E/G ratio of 4.46 and a beta of 1.90. GE Vernova Inc. has a fifty-two week low of $172.60 and a fifty-two week high of $677.29. The firm’s 50 day moving average is $548.53 and its two-hundred day moving average is $424.55.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.23. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. GE Vernova’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.65 earnings per share. Research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 24.10%.

Wall Street Analyst Weigh In

GEV has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their target price on shares of GE Vernova from $500.00 to $570.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. Susquehanna increased their price target on shares of GE Vernova from $662.00 to $736.00 and gave the company a “positive” rating in a research report on Thursday, July 24th. Citigroup increased their price target on shares of GE Vernova from $544.00 to $670.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Jefferies Financial Group lowered shares of GE Vernova from a “buy” rating to a “hold” rating and increased their price target for the company from $427.00 to $517.00 in a research report on Thursday, May 29th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of GE Vernova in a research report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $560.21.

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.