Mitsubishi UFJ Asset Management Co. Ltd. Grows Position in GE Vernova Inc. $GEV

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 6.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 523,289 shares of the company’s stock after acquiring an additional 33,133 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in GE Vernova were worth $276,898,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GEV. WFA Asset Management Corp purchased a new stake in shares of GE Vernova in the second quarter worth approximately $29,000. Highline Wealth Partners LLC boosted its holdings in GE Vernova by 34.6% during the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after acquiring an additional 18 shares during the period. Raleigh Capital Management Inc. bought a new position in GE Vernova in the 2nd quarter valued at $37,000. Advantage Trust Co purchased a new stake in GE Vernova in the second quarter worth $40,000. Finally, Solstein Capital LLC purchased a new stake in GE Vernova in the second quarter worth $44,000.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of recent analyst reports. Susquehanna boosted their target price on shares of GE Vernova from $740.00 to $750.00 and gave the company a “positive” rating in a research note on Thursday, October 23rd. Wall Street Zen lowered shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. TD Cowen dropped their target price on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Morgan Stanley raised their target price on shares of GE Vernova from $690.00 to $710.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of GE Vernova in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $607.81.

GE Vernova Stock Performance

NYSE:GEV opened at $575.61 on Friday. The firm has a 50-day simple moving average of $602.58 and a 200-day simple moving average of $548.30. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29. The firm has a market cap of $156.18 billion, a P/E ratio of 93.75, a P/E/G ratio of 4.09 and a beta of 1.68.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The business 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% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business 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 $0.25 dividend. The ex-dividend date is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 16.29%.

About GE Vernova

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.