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

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 1.8% during the third quarter, Holdings Channel reports. The fund 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 SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sachetta LLC raised its position in shares of GE Vernova by 10.7% in the 2nd quarter. Sachetta LLC now owns 165 shares of the company’s stock valued at $87,000 after purchasing an additional 16 shares in the last quarter. Good Life Advisors LLC grew its position in shares of GE Vernova by 1.0% during the second quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock worth $875,000 after buying an additional 16 shares in the last quarter. Bell Investment Advisors Inc increased its stake in shares of GE Vernova by 6.7% in the second quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock worth $135,000 after buying an additional 16 shares during the last quarter. Northwest Wealth Management LLC boosted its stake in GE Vernova by 3.6% during the 3rd quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock valued at $286,000 after acquiring an additional 16 shares during the last quarter. Finally, AMG National Trust Bank grew its holdings in GE Vernova by 1.5% during the 2nd quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock worth $606,000 after acquiring an additional 17 shares in the last quarter.

GE Vernova Stock Performance

Shares of GEV stock 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 firm has a market capitalization of $178.33 billion, a PE ratio of 107.05, a price-to-earnings-growth ratio of 2.79 and a beta of 1.67. The stock has a fifty day moving average of $639.17 and a two-hundred day moving average of $617.23.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data 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). The company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. GE Vernova’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.35) earnings per share. Equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be given a dividend of $0.50 per share. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. GE Vernova’s payout ratio is presently 32.57%.

Analyst Ratings Changes

A number of equities analysts recently commented on GEV shares. Robert W. Baird reiterated a “neutral” rating and issued a $649.00 price target (down from $816.00) on shares of GE Vernova in a research note on Friday, January 9th. Wolfe Research upgraded shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. Royal Bank Of Canada reissued an “outperform” rating and issued a $761.00 target price on shares of GE Vernova in a report on Monday, December 22nd. Evercore ISI assumed coverage on GE Vernova in a research note on Monday, December 15th. They issued an “outperform” rating and a $860.00 target price for the company. Finally, Bank of America increased their price target on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $701.62.

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.