OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires New Shares in GE Vernova Inc. $GEV

Key Points

• OCONNOR, a UBS asset management unit, opened a new position in GE Vernova during the fourth quarter, buying 3,834 shares valued at about $2.5 million.
• Several other large institutional investors also boosted their GE Vernova holdings, while two insiders recently sold shares, including the company’s CEO and chief accounting officer.
• Analysts remain broadly positive on GE Vernova: multiple firms raised price targets, and the stock has a consensus rating of Moderate Buy with an average target price of about $1,085.16.

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 3,834 shares of the company's stock, valued at approximately $2,506,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in GE Vernova by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company's stock worth $16,354,691,000 after purchasing an additional 208,162 shares during the last quarter. State Street Corp raised its position in GE Vernova by 2.1% during the 4th quarter. State Street Corp now owns 11,469,670 shares of the company's stock worth $7,496,232,000 after purchasing an additional 231,392 shares during the last quarter. Geode Capital Management LLC raised its position in GE Vernova by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company's stock worth $4,074,039,000 after purchasing an additional 68,894 shares during the last quarter. Morgan Stanley raised its position in GE Vernova by 12.8% during the 4th quarter. Morgan Stanley now owns 6,054,474 shares of the company's stock worth $3,957,024,000 after purchasing an additional 685,466 shares during the last quarter. Finally, Norges Bank bought a new position in GE Vernova during the 4th quarter worth $2,283,114,000.

Insider Transactions at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the business's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the sale, the chief accounting officer directly owned 3,549 shares of the company's stock, valued at $3,758,710.41. The trade was a 39.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Victor Abate sold 4,819 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the sale, the chief executive officer directly owned 1,835 shares of the company's stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. BMO Capital Markets raised their target price on GE Vernova from $1,110.00 to $1,250.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. Royal Bank Of Canada raised their target price on GE Vernova from $996.00 to $1,195.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. Guggenheim raised their target price on GE Vernova from $910.00 to $1,300.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Weiss Ratings raised GE Vernova from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, April 24th. Finally, Erste Group Bank raised GE Vernova to a "strong-buy" rating in a research report on Tuesday, March 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and a consensus target price of $1,085.16.

GE Vernova Stock Performance

GEV stock opened at $980.08 on Tuesday. The firm has a market cap of $263.37 billion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 3.49 and a beta of 1.24. The stock has a 50-day moving average price of $1,010.48 and a 200-day moving average price of $836.38. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a 1-year low of $479.04 and a 1-year high of $1,181.95.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company had revenue of $9.34 billion for the quarter, compared to analysts' expectations of $9.19 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The business's revenue was up 17.0% on a year-over-year basis. As a group, equities research analysts expect that GE Vernova Inc. will post 14.99 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova's payout ratio is presently 5.83%.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

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