Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in GE Vernova Inc. by 12.3%, owning approximately 490,156 shares worth around $149.6 million at the end of the first quarter.
• Recent analyst ratings have varied, with Mizuho downgrading GE Vernova to "neutral" while TD Cowen raised its price target from $390 to $685, reflecting mixed investor sentiment.
• GE Vernova has declared a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 0.2%, with a payout ratio of 24.10%.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 12.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 490,156 shares of the company's stock after purchasing an additional 53,578 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of GE Vernova worth $149,635,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Ironwood Investment Counsel LLC grew its holdings in shares of GE Vernova by 24.7% during the first quarter. Ironwood Investment Counsel LLC now owns 945 shares of the company's stock valued at $288,000 after buying an additional 187 shares in the last quarter. Altfest L J & Co. Inc. grew its stake in GE Vernova by 229.9% in the first quarter. Altfest L J & Co. Inc. now owns 3,764 shares of the company's stock valued at $1,149,000 after purchasing an additional 2,623 shares in the last quarter. Deutsche Bank AG grew its stake in GE Vernova by 56.6% in the first quarter. Deutsche Bank AG now owns 752,998 shares of the company's stock valued at $229,875,000 after purchasing an additional 272,066 shares in the last quarter. Chicago Partners Investment Group LLC grew its stake in GE Vernova by 18.3% in the first quarter. Chicago Partners Investment Group LLC now owns 7,675 shares of the company's stock valued at $2,343,000 after purchasing an additional 1,186 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in GE Vernova by 3.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,742,299 shares of the company's stock valued at $531,889,000 after purchasing an additional 62,903 shares in the last quarter.

GE Vernova Trading Up 0.4%

Shares of GEV stock traded up $2.39 during trading hours on Monday, reaching $651.48. 775,390 shares of the stock were exchanged, compared to its average volume of 3,600,346. GE Vernova Inc. has a 12-month low of $173.07 and a 12-month high of $677.29. The company's 50-day moving average price is $548.53 and its 200-day moving average price is $424.45. The firm has a market capitalization of $177.35 billion, a price-to-earnings ratio of 157.17, a price-to-earnings-growth ratio of 4.49 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.65 EPS. On average, sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current 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 paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, July 21st. GE Vernova's payout ratio is 24.10%.

Analysts Set New Price Targets

GEV has been the topic of a number of recent research reports. Guggenheim downgraded GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Glj Research assumed coverage on GE Vernova in a research note on Monday, June 23rd. They issued a "buy" rating on the stock. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and a consensus target price of $560.21.

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.