MYDA Advisors LLC Acquires Shares of 6,000 GE Vernova Inc. $GEV

Key Points

• MYDA Advisors LLC acquired 6,000 shares of GE Vernova Inc., valued at approximately $1.83 million, in the first quarter, marking a significant new stake in the company.
• Several institutional investors, including Vanguard Group and Goldman Sachs, have increased their positions in GE Vernova, reflecting growing confidence in the company.
• Analysts have issued varied ratings on GE Vernova, with JPMorgan Chase increasing their price target from $620 to $715 while Mizuho downgraded it from "outperform" to "neutral."

MYDA Advisors LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 6,000 shares of the company's stock, valued at approximately $1,832,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in GE Vernova by 1.8% during the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock worth $7,446,577,000 after buying an additional 432,830 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of GE Vernova by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock worth $955,513,000 after purchasing an additional 214,483 shares in the last quarter. GAMMA Investing LLC increased its position in shares of GE Vernova by 32,984.2% in the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after purchasing an additional 2,135,066 shares during the period. Wellington Management Group LLP raised its stake in GE Vernova by 50.9% in the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock valued at $619,703,000 after purchasing an additional 684,794 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in GE Vernova by 47.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company's stock valued at $591,333,000 after purchasing an additional 622,730 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Mizuho lowered shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 target price on the stock. in a report on Monday, July 28th. JPMorgan Chase & Co. increased their price target on shares of GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Morgan Stanley lifted their price objective on shares of GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Wall Street Zen cut GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Citigroup lifted their price target on GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $560.21.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the transaction, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.15% of the company's stock.

GE Vernova Stock Down 0.4%

Shares of GEV stock opened at $623.32 on Thursday. The firm has a market capitalization of $169.68 billion, a P/E ratio of 150.20, a P/E/G ratio of 4.33 and a beta of 1.90. GE Vernova Inc. has a twelve month low of $180.77 and a twelve month high of $677.29. The stock's fifty day simple moving average is $584.29 and its 200 day simple moving average is $446.42.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same period last year, the firm posted $4.65 earnings per share. The business's revenue for the quarter was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date was Monday, July 21st. GE Vernova's dividend payout ratio is 24.10%.

GE Vernova Company Profile

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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