Mitsubishi UFJ Trust & Banking Corp Cuts Stake in GE Vernova Inc. $GEV

Mitsubishi UFJ Trust & Banking Corp lowered its position in GE Vernova Inc. (NYSE:GEV) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,491 shares of the company’s stock after selling 516 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in GE Vernova were worth $63,758,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC increased its stake in GE Vernova by 252.9% during the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock valued at $366,016,000 after purchasing an additional 892,549 shares during the last quarter. Amundi raised its stake in GE Vernova by 109.0% during the first quarter. Amundi now owns 1,665,980 shares of the company’s stock worth $496,013,000 after acquiring an additional 868,927 shares during the period. Assenagon Asset Management S.A. lifted its holdings in GE Vernova by 10,044.9% in the second quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock worth $445,773,000 after acquiring an additional 834,129 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of GE Vernova by 627.2% in the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company’s stock worth $282,946,000 after acquiring an additional 799,388 shares during the period. Finally, Nuveen LLC bought a new stake in shares of GE Vernova during the first quarter valued at approximately $223,556,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GEV. Jefferies Financial Group reaffirmed a “hold” rating and set a $654.00 price target on shares of GE Vernova in a research note on Monday, October 27th. Guggenheim lowered GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Melius raised GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective for the company in a research report on Monday, September 15th. TD Cowen reduced their price objective on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Finally, UBS Group set a $710.00 price objective on shares of GE Vernova in a report on Thursday, October 23rd. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $607.81.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.15% of the company’s stock.

GE Vernova Price Performance

Shares of NYSE GEV opened at $575.07 on Thursday. The business has a 50-day moving average of $601.77 and a 200-day moving average of $554.47. The stock has a market capitalization of $156.03 billion, a price-to-earnings ratio of 93.66, a PEG ratio of 4.28 and a beta of 1.68. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same period in the prior year, the business earned ($0.35) EPS. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side 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 Monday, November 17th. Stockholders of record on Monday, October 20th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s payout ratio is 16.29%.

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.