UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stock Position in GE Vernova Inc. (NYSE:GEV)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of GE Vernova Inc. (NYSE:GEV) by 5.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,712,856 shares of the company’s stock after selling 99,336 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in GE Vernova were worth $563,410,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Register Financial Advisors LLC purchased a new stake in shares of GE Vernova during the fourth quarter worth approximately $206,000. GPS Wealth Strategies Group LLC raised its stake in shares of GE Vernova by 1,126.0% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock worth $294,000 after purchasing an additional 822 shares during the last quarter. Legacy Bridge LLC raised its stake in shares of GE Vernova by 77.0% during the fourth quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock worth $3,612,000 after purchasing an additional 4,776 shares during the last quarter. CENTRAL TRUST Co raised its stake in shares of GE Vernova by 16.6% during the fourth quarter. CENTRAL TRUST Co now owns 9,872 shares of the company’s stock worth $3,247,000 after purchasing an additional 1,408 shares during the last quarter. Finally, Principal Securities Inc. raised its stake in shares of GE Vernova by 29.0% during the fourth quarter. Principal Securities Inc. now owns 1,892 shares of the company’s stock worth $622,000 after purchasing an additional 425 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GEV shares. JPMorgan Chase & Co. increased their price objective on GE Vernova from $430.00 to $460.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Susquehanna reissued a “positive” rating and issued a $499.00 target price (up previously from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. Barclays reduced their target price on GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. The Goldman Sachs Group raised their target price on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Truist Financial set a $440.00 target price on GE Vernova in a report on Thursday, March 27th. Six research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $374.62.

GE Vernova Trading Up 0.6%

GE Vernova stock opened at $449.36 on Wednesday. The stock has a market cap of $122.65 billion and a PE ratio of 80.82. The stock has a 50-day moving average price of $349.99 and a 200 day moving average price of $347.66. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $451.37.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.54. The firm had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.47) EPS. On average, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova’s dividend payout ratio is presently 14.41%.

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.