Union Bancaire Privee UBP SA Acquires New Position in GE Vernova Inc. (NYSE:GEV)

Union Bancaire Privee UBP SA acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,587 shares of the company’s stock, valued at approximately $1,446,000.

Several other large investors have also bought and sold shares of GEV. Cedar Mountain Advisors LLC raised its holdings in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after acquiring an additional 39 shares during the last quarter. Castleview Partners LLC bought a new position in shares of GE Vernova during the third quarter valued at $28,000. Pathway Financial Advisers LLC purchased a new stake in shares of GE Vernova during the second quarter valued at $29,000. Covestor Ltd increased its holdings in GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in GE Vernova in the 3rd quarter worth about $31,000.

GE Vernova Trading Down 21.6 %

NYSE GEV opened at $329.63 on Tuesday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The stock’s 50 day moving average is $353.38 and its 200 day moving average is $273.64. The stock has a market cap of $90.86 billion and a PE ratio of 59.29.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, analysts forecast that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

GE Vernova announced that its board has initiated a share buyback plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.30%. GE Vernova’s dividend payout ratio is currently 17.99%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citigroup raised their price target on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Hsbc Global Res cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Bank of America boosted their target price on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Morgan Stanley raised their price target on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, The Goldman Sachs Group upped their price objective on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research report on Friday. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $339.73.

About GE Vernova

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.