Mufg Securities Americas Inc. Purchases 1,165 Shares of GE Vernova Inc. $GEV

Mufg Securities Americas Inc. grew its position in GE Vernova Inc. (NYSE:GEV) by 23.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,049 shares of the company’s stock after acquiring an additional 1,165 shares during the period. Mufg Securities Americas Inc.’s holdings in GE Vernova were worth $3,201,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of GE Vernova during the first quarter worth $912,000. Pines Wealth Management LLC acquired a new position in GE Vernova in the 2nd quarter worth $408,000. Resona Asset Management Co. Ltd. increased its holdings in GE Vernova by 8.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock worth $26,229,000 after purchasing an additional 6,551 shares in the last quarter. Dupree Financial Group LLC acquired a new stake in shares of GE Vernova in the 2nd quarter valued at about $253,000. Finally, Lockheed Martin Investment Management Co. bought a new stake in shares of GE Vernova in the first quarter valued at about $458,000.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GEV has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of GE Vernova in a report on Wednesday, October 8th. Wells Fargo & Company upped their price target on GE Vernova from $697.00 to $717.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Barclays lifted their price objective on shares of GE Vernova from $706.00 to $710.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. BMO Capital Markets boosted their price objective on shares of GE Vernova from $690.00 to $710.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. Finally, Morgan Stanley raised their target price on shares of GE Vernova from $690.00 to $710.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $607.81.

GE Vernova Stock Performance

Shares of GEV stock opened at $555.98 on Friday. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29. The stock has a market cap of $150.85 billion, a price-to-earnings ratio of 90.55, a PEG ratio of 4.15 and a beta of 1.68. The firm’s 50-day moving average is $595.52 and its 200-day moving average is $562.34.

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 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 during the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the prior year, the company earned ($0.35) EPS. GE Vernova’s quarterly revenue was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, October 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, October 20th. GE Vernova’s payout ratio is 16.29%.

GE Vernova 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.