Union Bancaire Privee UBP SA Has $9.17 Million Stock Holdings in GE Vernova Inc. $GEV

Key Points

• Union Bancaire Privee UBP SA cut its GE Vernova stake by 29.7% in the first quarter, leaving it with 10,505 shares valued at about $9.17 million.
• Several insiders sold shares recently, including CAO Matthew Joseph Potvin and CEO Victor Abate, while insiders collectively own only 0.21% of the company.
• GE Vernova reported strong quarterly results, including EPS of $17.44 versus a $1.95 estimate, and analysts remain generally bullish with an average Moderate Buy rating and a consensus price target of $1,089.88.

Union Bancaire Privee UBP SA trimmed its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 29.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 10,505 shares of the company's stock after selling 4,435 shares during the quarter. Union Bancaire Privee UBP SA's holdings in GE Vernova were worth $9,170,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GEV. Creative Capital Management Investments LLC lifted its position in GE Vernova by 256.2% during the first quarter. Creative Capital Management Investments LLC now owns 57 shares of the company's stock worth $50,000 after purchasing an additional 41 shares during the period. Cambient Family Office LLC increased its holdings in GE Vernova by 203.5% in the 1st quarter. Cambient Family Office LLC now owns 4,884 shares of the company's stock valued at $4,266,000 after buying an additional 3,275 shares during the period. Rooted Wealth Advisors Inc. bought a new position in GE Vernova in the 1st quarter valued at about $190,000. Lewis Asset Management LLC raised its position in shares of GE Vernova by 56.5% in the 1st quarter. Lewis Asset Management LLC now owns 928 shares of the company's stock valued at $810,000 after buying an additional 335 shares in the last quarter. Finally, WT Wealth Management acquired a new position in shares of GE Vernova in the 1st quarter valued at approximately $225,000.

Insiders Place Their Bets

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

GE Vernova Trading Down 3.7%

Shares of GE Vernova stock opened at $1,045.74 on Friday. The firm's 50 day moving average is $1,031.16 and its 200 day moving average is $863.97. The firm has a market capitalization of $281.01 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 4.02 and a beta of 1.23. GE Vernova Inc. has a 1 year low of $482.20 and a 1 year high of $1,181.95. 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 issued its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The firm's revenue was up 17.0% compared to the same quarter last year. Equities research analysts forecast that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Argus set a $1,300.00 price target on shares of GE Vernova in a research report on Monday, April 27th. Royal Bank Of Canada boosted their price objective on shares of GE Vernova from $996.00 to $1,195.00 and gave the company an "outperform" rating in a research report on Thursday, April 23rd. Weiss Ratings upgraded GE Vernova from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, April 24th. Susquehanna set a $1,300.00 target price on GE Vernova in a report on Thursday, April 23rd. Finally, Rothschild & Co Redburn raised GE Vernova from a "sell" rating to a "buy" rating and raised their target price for the company from $560.00 to $1,100.00 in a report on Monday, March 9th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,089.88.

GE Vernova 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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