Meiji Yasuda Asset Management Co Ltd. Decreases Position in GE Vernova Inc. $GEV

Meiji Yasuda Asset Management Co Ltd. trimmed its holdings in GE Vernova Inc. (NYSE:GEV) by 14.3% in the third quarter, HoldingsChannel.com reports. The firm owned 6,364 shares of the company’s stock after selling 1,059 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in GE Vernova were worth $3,913,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GEV. Jackson Grant Investment Advisers Inc. boosted its holdings in shares of GE Vernova by 344.4% in the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after buying an additional 31 shares in the last quarter. Howard Hughes Medical Institute acquired a new stake in GE Vernova during the 2nd quarter worth $31,000. Bay Harbor Wealth Management LLC raised its stake in GE Vernova by 537.5% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares in the last quarter. Monetary Management Group Inc. purchased a new stake in GE Vernova in the second quarter valued at $32,000. Finally, Elevation Wealth Partners LLC lifted its position in GE Vernova by 47.2% in the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after acquiring an additional 17 shares during the last quarter.

GE Vernova Stock Down 3.1%

NYSE GEV opened at $790.00 on Monday. The firm has a market cap of $212.93 billion, a P/E ratio of 44.38, a P/E/G ratio of 3.14 and a beta of 1.45. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $894.93. The business’s 50-day moving average price is $743.08 and its 200 day moving average price is $656.48.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, beating the consensus estimate of $2.99 by $10.40. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The firm had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.21 billion. During the same period in the prior year, the business earned $1.73 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s dividend payout ratio is 11.24%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of GE Vernova in a report on Wednesday, December 10th. Mizuho set a $714.00 price target on GE Vernova in a research note on Tuesday, February 3rd. Barclays reaffirmed an “overweight” rating and set a $849.00 price target on shares of GE Vernova in a research report on Monday, February 2nd. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price objective for the company in a research note on Friday, January 30th. Finally, Robert W. Baird set a $923.00 target price on shares of GE Vernova and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $805.25.

About GE Vernova

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.