Mufg Securities Americas Inc. Buys 1,292 Shares of GE Vernova Inc. $GEV

Mufg Securities Americas Inc. boosted its position in GE Vernova Inc. (NYSE:GEV) by 21.4% during the third quarter, Holdings Channel reports. The fund owned 7,341 shares of the company’s stock after acquiring an additional 1,292 shares during the period. Mufg Securities Americas Inc.’s holdings in GE Vernova were worth $4,514,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GEV. Jackson Grant Investment Advisers Inc. increased its position in shares of GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the last quarter. Bay Harbor Wealth Management LLC boosted its stake in GE Vernova by 537.5% in the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after buying an additional 43 shares in the last quarter. Elevation Wealth Partners LLC grew 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 valued at $33,000 after acquiring an additional 17 shares during the last quarter. Deseret Mutual Benefit Administrators raised its stake in shares of GE Vernova by 112.0% during the third quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock worth $33,000 after acquiring an additional 28 shares in the last quarter. Finally, Howard Hughes Medical Institute purchased a new position in shares of GE Vernova during the second quarter worth approximately $31,000.

GE Vernova Price Performance

NYSE GEV opened at $831.01 on Tuesday. The stock has a market capitalization of $223.98 billion, a PE ratio of 46.69, a PEG ratio of 3.30 and a beta of 1.67. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $846.00. The business’s 50-day moving average is $707.95 and its 200 day moving average is $642.37.

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

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is presently 11.24%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Evercore increased their target price on shares of GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Oppenheimer reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 29th. Bank of America lifted their price objective on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Jefferies Financial Group reissued a “buy” rating and issued a $930.00 target price on shares of GE Vernova in a research note on Thursday, January 29th. Finally, Weiss Ratings upgraded GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $788.24.

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.