Myriad Asset Management US LP purchased a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,147 shares of the company's stock, valued at approximately $1,035,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Cedar Mountain Advisors LLC increased its stake in shares of GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock valued at $25,000 after buying an additional 39 shares during the period. Pineridge Advisors LLC grew its stake in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after purchasing an additional 69 shares during the period. Castleview Partners LLC acquired a new stake in GE Vernova during the third quarter worth approximately $28,000. Covestor Ltd grew its stake in GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company's stock worth $31,000 after purchasing an additional 46 shares during the period. Finally, Darwin Wealth Management LLC acquired a new stake in GE Vernova during the third quarter worth approximately $31,000.
GE Vernova Trading Up 1.4 %
Shares of GEV traded up $5.00 on Tuesday, reaching $372.59. 2,405,847 shares of the company's stock traded hands, compared to its average volume of 3,694,381. The stock has a market cap of $102.70 billion and a PE ratio of 67.01. The stock's 50 day simple moving average is $362.38 and its two-hundred day simple moving average is $295.72. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50.
GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts' consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion for the quarter, compared to analysts' expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.
GE Vernova Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova's payout ratio is 17.99%.
GE Vernova announced that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.
Wall Street Analyst Weigh In
GEV has been the subject of several recent analyst reports. Jefferies Financial Group raised their target price on GE Vernova from $348.00 to $391.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. BMO Capital Markets raised their target price on GE Vernova from $360.00 to $420.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft initiated coverage on GE Vernova in a research note on Monday, October 21st. They set a "buy" rating and a $354.00 target price for the company. William Blair reaffirmed an "outperform" rating on shares of GE Vernova in a research note on Thursday, January 23rd. Finally, Robert W. Baird began coverage on GE Vernova in a research note on Thursday, February 13th. They set an "outperform" rating and a $448.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $350.13.
Read Our Latest Report on GEV
GE Vernova Profile
(
Free Report)
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.
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