Myriad Asset Management Advisors LLC Makes New $1.98 Million Investment in GE Vernova Inc. $GEV

Myriad Asset Management Advisors LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 4th quarter, HoldingsChannel reports. The firm bought 3,033 shares of the company’s stock, valued at approximately $1,982,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GEV. Norges Bank bought a new position in GE Vernova during the 4th quarter worth about $2,283,114,000. Northwestern Mutual Wealth Management Co. grew its holdings in GE Vernova by 5,171.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock worth $1,603,114,000 after acquiring an additional 2,406,326 shares in the last quarter. Capital World Investors boosted its holdings in shares of GE Vernova by 1,907.5% in the 3rd quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock valued at $1,325,842,000 after buying an additional 2,048,792 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of GE Vernova by 170.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company’s stock valued at $722,956,000 after buying an additional 740,339 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of GE Vernova by 1,300.4% in the 4th quarter. Jennison Associates LLC now owns 647,791 shares of the company’s stock valued at $423,377,000 after buying an additional 601,533 shares in the last quarter.

Insider Buying and Selling

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction that occurred on Thursday, May 14th. The shares were 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 in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the sale, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by company insiders.

GE Vernova Stock Down 5.8%

GEV stock opened at $866.63 on Thursday. The firm has a 50 day moving average of $1,007.32 and a 200 day moving average of $828.51. The stock has a market capitalization of $232.88 billion, a PE ratio of 25.24, a price-to-earnings-growth ratio of 3.41 and a beta of 1.23. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a 52 week low of $464.00 and a 52 week high of $1,181.95.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter was up 17.0% on a year-over-year basis. During the same period last year, the business earned $0.91 EPS. Sell-side analysts forecast that GE Vernova Inc. will post 14.99 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Oppenheimer set a $1,303.00 price target on shares of GE Vernova in a report on Thursday, April 23rd. Zacks Research cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. The Goldman Sachs Group restated a “buy” rating and issued a $1,328.00 price target on shares of GE Vernova in a report on Friday, April 24th. Robert W. Baird raised their price target on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Finally, Guggenheim raised their price target on shares of GE Vernova from $910.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,090.76.

Key GE Vernova News

Here are the key news stories impacting GE Vernova this week:

• Positive Sentiment: GE Vernova was highlighted as a potential beneficiary of the U.S. Department of Energy setting a timeline for fusion energy development, which could lift sentiment around the company’s long-term role in advanced power generation and grid infrastructure. Article Title
• Neutral Sentiment: Recent coverage also noted that GEV had already been trading lower in the previous session, suggesting some near-term momentum loss before today’s move. Article Title
• Neutral Sentiment: Broader market headlines about futures moving on geopolitical tensions and oil volatility may also be contributing to a risk-off tone, but they are not specific to GE Vernova’s fundamentals. Article Title

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.