GE Vernova Inc. (NYSE:GEV) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 5.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,712,856 shares of the company’s stock after selling 99,336 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.62% of GE Vernova worth $563,410,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. USS Investment Management Ltd purchased a new stake in GE Vernova during the fourth quarter worth about $15,275,000. Voloridge Investment Management LLC increased its stake in GE Vernova by 110.3% during the fourth quarter. Voloridge Investment Management LLC now owns 465,795 shares of the company’s stock worth $153,214,000 after purchasing an additional 244,294 shares during the period. Waverly Advisors LLC increased its stake in GE Vernova by 97.5% during the fourth quarter. Waverly Advisors LLC now owns 4,859 shares of the company’s stock worth $1,598,000 after purchasing an additional 2,399 shares during the period. Worldquant Millennium Advisors LLC increased its stake in GE Vernova by 1,443.2% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 127,668 shares of the company’s stock worth $41,994,000 after purchasing an additional 119,395 shares during the period. Finally, Woodline Partners LP purchased a new stake in GE Vernova during the fourth quarter worth about $5,445,000.

GE Vernova Trading Up 0.6%

Shares of NYSE GEV opened at $449.36 on Wednesday. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $451.37. The stock has a 50 day moving average of $349.99 and a two-hundred day moving average of $347.66. The stock has a market cap of $122.65 billion and a P/E ratio of 80.82.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.54. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.56 billion. During the same quarter in the previous year, the business earned ($0.47) earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were paid a $0.25 dividend. 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 currently 14.41%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GEV shares. Citigroup cut their price target on shares of GE Vernova from $437.00 to $354.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Morgan Stanley reissued an “overweight” rating and set a $422.00 price objective (up from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. Barclays lowered their price objective on GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Susquehanna reissued a “positive” rating and set a $499.00 price objective (up from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Finally, Robert W. Baird boosted their price objective on GE Vernova from $387.00 to $405.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $374.62.

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.