UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 owned 0.62% of GE Vernova worth $563,410,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. Hengehold Capital Management LLC raised its stake in shares of GE Vernova by 2.4% in the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company's stock valued at $405,000 after purchasing an additional 29 shares in the last quarter. Mutual Advisors LLC raised its stake in GE Vernova by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company's stock worth $888,000 after acquiring an additional 31 shares in the last quarter. WASHINGTON TRUST Co raised its stake in GE Vernova by 1.9% during the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company's stock worth $560,000 after acquiring an additional 31 shares in the last quarter. Kovack Advisors Inc. raised its stake in GE Vernova by 1.0% during the fourth quarter. Kovack Advisors Inc. now owns 3,167 shares of the company's stock worth $1,042,000 after acquiring an additional 31 shares in the last quarter. Finally, NewSquare Capital LLC raised its stake in GE Vernova by 32.4% during the fourth quarter. NewSquare Capital LLC now owns 139 shares of the company's stock worth $46,000 after acquiring an additional 34 shares in the last quarter.
GE Vernova Trading Up 1.4%
GE Vernova stock traded up $6.54 during mid-day trading on Friday, hitting $465.36. The stock had a trading volume of 3,569,081 shares, compared to its average volume of 3,336,197. The stock has a 50-day simple moving average of $358.25 and a two-hundred day simple moving average of $350.55. The stock has a market capitalization of $127.01 billion and a PE ratio of 83.70. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $469.81.
GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter last year, the business earned ($0.47) earnings per share. The company's revenue was up 10.6% compared to the same quarter last year. Sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.
GE Vernova Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date was Thursday, April 17th. GE Vernova's dividend payout ratio (DPR) is currently 14.41%.
Analyst Ratings Changes
GEV has been the subject of several recent analyst reports. CICC Research initiated coverage on GE Vernova in a research note on Wednesday, February 19th. They set an "outperform" rating for the company. Guggenheim reiterated a "buy" rating and set a $380.00 price objective on shares of GE Vernova in a research note on Thursday, April 24th. 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 note on Friday, May 16th. Johnson Rice initiated coverage on GE Vernova in a research note on Friday, February 7th. They set a "buy" rating and a $425.00 price objective for the company. Finally, Royal Bank of Canada decreased their target price on GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a report on Tuesday, March 18th. Six equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $374.62.
Check Out Our Latest Stock Analysis on GE Vernova
About GE Vernova
(
Free Report)
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.
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