Union Bancaire Privee UBP SA Sells 4,435 Shares of GE Vernova Inc. $GEV

Union Bancaire Privee UBP SA trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 29.7% during the first quarter, HoldingsChannel reports. The fund owned 10,505 shares of the company’s stock after selling 4,435 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in GE Vernova were worth $9,170,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cornerstone Financial Management LLC bought a new stake in shares of GE Vernova in the fourth quarter worth $25,000. Wealth Watch Advisors INC bought a new position in GE Vernova during the 3rd quarter worth $25,000. Torren Management LLC bought a new position in GE Vernova during the 4th quarter worth $26,000. ORG Wealth Partners LLC lifted its holdings in GE Vernova by 241.7% during the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after buying an additional 29 shares during the period. Finally, Navalign LLC acquired a new position in GE Vernova during the 4th quarter worth about $27,000.

Insiders Place Their Bets

In other news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the transaction, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the transaction, the chief accounting officer directly owned 3,549 shares in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

GE Vernova Price Performance

Shares of GEV opened at $1,045.74 on Friday. The firm has a market cap of $281.01 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 4.02 and a beta of 1.23. GE Vernova Inc. has a 52-week low of $482.20 and a 52-week high of $1,181.95. The business’s 50 day moving average price is $1,031.16 and its two-hundred day moving average price is $863.97. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping the consensus estimate of $1.95 by $15.49. The company had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 EPS. On average, equities analysts anticipate that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is currently 5.83%.

Analysts Set New Price Targets

GEV has been the subject of several recent research reports. Citigroup increased their price target on GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Weiss Ratings raised GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Erste Group Bank upgraded GE Vernova to a “strong-buy” rating in a report on Tuesday, March 24th. BNP Paribas Exane cut GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 target price on the stock. in a report on Monday, April 27th. Finally, Oppenheimer set a $1,303.00 target price on shares of GE Vernova in a research report on Thursday, April 23rd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $1,089.88.

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.