OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Invests $2.51 Million in GE Vernova Inc. $GEV

Key Points

• OCONNOR, a UBS Asset Management unit, bought a new stake in GE Vernova during the fourth quarter, purchasing 3,834 shares valued at about $2.51 million.
• Other major institutional investors, including Vanguard, State Street, Geode Capital, Morgan Stanley, and Norges Bank, also added to or established positions in GE Vernova.
• GE Vernova reported strong quarterly results, with EPS of $17.44 versus $1.95 expected and revenue of $9.34 billion, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $1,089.88.

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in GE Vernova by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company's stock valued at $16,354,691,000 after purchasing an additional 208,162 shares in the last quarter. State Street Corp increased its stake in shares of GE Vernova by 2.1% during the fourth 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 in the last quarter. Geode Capital Management LLC increased its stake in shares of GE Vernova by 1.1% during the fourth 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 in the last quarter. Morgan Stanley raised its position in shares of 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 acquired a new position in shares of GE Vernova during the 4th quarter worth about $2,283,114,000.

Insider Activity at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the transaction, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction that occurred on 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 transaction, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by company insiders.

GE Vernova Stock Performance

GEV opened at $1,111.65 on Friday. The firm has a market capitalization of $298.72 billion, a PE ratio of 32.38, a PEG ratio of 4.11 and a beta of 1.23. GE Vernova Inc. has a twelve month low of $479.04 and a twelve month high of $1,181.95. The firm's 50-day moving average price is $1,022.78 and its 200 day moving average price is $847.85. 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 (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $15.49. The company had revenue of $9.34 billion during the quarter, compared to analysts' expectations of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. GE Vernova's revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 EPS. As a group, sell-side analysts expect that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on GEV shares. TD Cowen lifted their price objective on GE Vernova from $780.00 to $1,220.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Guggenheim increased their target price on GE Vernova from $910.00 to $1,300.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Wells Fargo & Company raised their target price on GE Vernova from $831.00 to $896.00 and gave the company an "overweight" rating in a research report on Tuesday, March 31st. Robert W. Baird lifted their price target on GE Vernova from $1,008.00 to $1,400.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. Finally, Weiss Ratings upgraded GE Vernova from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, April 24th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,089.88.

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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