Mufg Securities Americas Inc. Grows Stake in GE Vernova Inc. $GEV

Mufg Securities Americas Inc. lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 21.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,341 shares of the company’s stock after purchasing 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 quarter.

A number of other hedge funds also recently modified their holdings of the stock. Jackson Grant Investment Advisers Inc. increased its position in GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the last quarter. Bay Harbor Wealth Management LLC lifted its position in shares of GE Vernova by 537.5% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the last quarter. Elevation Wealth Partners LLC grew its stake in shares of GE Vernova by 47.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after acquiring an additional 17 shares during the period. Deseret Mutual Benefit Administrators increased its holdings in GE Vernova by 112.0% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock worth $33,000 after acquiring an additional 28 shares during the last quarter. Finally, Howard Hughes Medical Institute purchased a new stake in GE Vernova in the 2nd quarter worth about $31,000.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GEV shares. Evercore increased their target price on shares of GE Vernova from $860.00 to $905.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Robert W. Baird set a $923.00 price objective on shares of GE Vernova and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Weiss Ratings upgraded shares of GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, February 5th. William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 10th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $930.00 price target on shares of GE Vernova in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $788.24.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $831.01 on Tuesday. The firm has a fifty day moving average price of $707.95 and a two-hundred day moving average price of $642.37. The company has a market cap of $223.98 billion, a price-to-earnings ratio of 46.69, a PEG ratio of 3.30 and a beta of 1.67. GE Vernova Inc. has a one year low of $252.25 and a one year high of $846.00.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, topping 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 company had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $10.21 billion. During the same quarter last year, the business posted $1.73 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. Equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced 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. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova’s dividend payout ratio (DPR) is currently 11.24%.

GE Vernova 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.