Mitsubishi UFJ Asset Management UK Ltd. Takes $305,000 Position in GE Vernova Inc. (NYSE:GEV)

Mitsubishi UFJ Asset Management UK Ltd. purchased a new stake in GE Vernova Inc. (NYSE:GEV) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,000 shares of the company’s stock, valued at approximately $305,000.

Several other large investors have also recently modified their holdings of GEV. Navigoe LLC bought a new position in shares of GE Vernova during the 4th quarter worth approximately $27,000. EQ Wealth Advisors LLC purchased a new stake in GE Vernova during the 1st quarter worth approximately $27,000. IMA Advisory Services Inc. purchased a new stake in GE Vernova during the 1st quarter worth approximately $27,000. Clarity Asset Management Inc. purchased a new stake in GE Vernova during the 4th quarter worth approximately $28,000. Finally, Orion Capital Management LLC purchased a new stake in GE Vernova during the 4th quarter worth approximately $30,000.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Barclays boosted their target price on shares of GE Vernova from $580.00 to $706.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Seaport Res Ptn raised shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, July 10th. The Goldman Sachs Group boosted their target price on shares of GE Vernova from $500.00 to $570.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Finally, TD Cowen upped their price objective on shares of GE Vernova from $390.00 to $685.00 and gave the company a “buy” rating in a report on Friday, July 25th. Ten research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $560.21.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $634.79 on Thursday. The stock has a market cap of $172.80 billion, a P/E ratio of 152.96, a P/E/G ratio of 4.54 and a beta of 1.90. The stock’s 50 day simple moving average is $558.05 and its 200-day simple moving average is $429.11. GE Vernova Inc. has a 1-year low of $173.07 and a 1-year high of $677.29.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $8.78 billion. During the same period in the previous year, the firm posted $4.65 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Monday, July 21st. GE Vernova’s dividend payout ratio (DPR) is presently 24.10%.

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.