Meiji Yasuda Asset Management Co Ltd. Cuts Position in GE Vernova Inc. $GEV

Meiji Yasuda Asset Management Co Ltd. trimmed its position in shares of GE Vernova Inc. (NYSE:GEV) by 14.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,364 shares of the company’s stock after selling 1,059 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in GE Vernova were worth $3,913,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GEV. Riggs Asset Managment Co. Inc. grew its stake in shares of GE Vernova by 8.6% in the third quarter. Riggs Asset Managment Co. Inc. now owns 7,004 shares of the company’s stock valued at $4,307,000 after buying an additional 556 shares in the last quarter. CreativeOne Wealth LLC grew its position in GE Vernova by 6.9% in the 3rd quarter. CreativeOne Wealth LLC now owns 3,461 shares of the company’s stock valued at $2,128,000 after acquiring an additional 223 shares in the last quarter. Ameriflex Group Inc. lifted its position in shares of GE Vernova by 98.1% during the third quarter. Ameriflex Group Inc. now owns 1,036 shares of the company’s stock worth $637,000 after purchasing an additional 513 shares in the last quarter. Angeles Wealth Management LLC lifted its position in shares of GE Vernova by 146.3% during the third quarter. Angeles Wealth Management LLC now owns 3,071 shares of the company’s stock worth $1,888,000 after purchasing an additional 1,824 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of GE Vernova by 45.5% in the third quarter. First Trust Advisors LP now owns 650,643 shares of the company’s stock valued at $400,080,000 after purchasing an additional 203,600 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GEV shares. Wall Street Zen upgraded shares of GE Vernova from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Weiss Ratings upgraded shares of GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. Wells Fargo & Company boosted their price target on shares of GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. UBS Group reaffirmed a “buy” rating on shares of GE Vernova in a research report on Thursday, January 29th. Finally, Erste Group Bank began coverage on GE Vernova in a research note on Thursday. They set a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $805.25.

GE Vernova Trading Down 3.1%

Shares of NYSE:GEV opened at $790.00 on Monday. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $894.93. The company’s 50 day moving average is $743.08 and its two-hundred day moving average is $656.48. The company has a market cap of $212.93 billion, a PE ratio of 44.38, a P/E/G ratio of 3.14 and a beta of 1.45.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. The business had revenue of $10.96 billion for the quarter, compared to analyst estimates of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the business earned $1.73 EPS. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. GE Vernova’s dividend payout ratio (DPR) is currently 11.24%.

About GE Vernova

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.