Jackson Square Capital LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,761 shares of the company's stock, valued at approximately $579,000.
Several other hedge funds and other institutional investors have also made changes to their positions in GEV. Castleview Partners LLC acquired a new stake in GE Vernova during the 3rd quarter worth $28,000. Covestor Ltd lifted its stake in shares of GE Vernova by 61.3% in the third 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. Darwin Wealth Management LLC acquired a new position in GE Vernova during the third quarter worth about $31,000. Prestige Wealth Management Group LLC grew its stake in GE Vernova by 175.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company's stock valued at $31,000 after acquiring an additional 77 shares in the last quarter. Finally, Planning Capital Management Corp grew its stake in GE Vernova by 1,000.0% during the 3rd quarter. Planning Capital Management Corp now owns 143 shares of the company's stock valued at $36,000 after acquiring an additional 130 shares in the last quarter.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on GEV. HSBC restated a "hold" rating and set a $255.00 target price (up from $240.00) on shares of GE Vernova in a report on Friday, October 4th. William Blair restated an "outperform" rating on shares of GE Vernova in a report on Wednesday, December 11th. Evercore ISI boosted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. Wells Fargo & Company raised their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $367.00 to $374.00 and gave the company an "overweight" rating in a report on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and a consensus target price of $321.35.
Check Out Our Latest Report on GE Vernova
GE Vernova Stock Performance
GEV stock traded up $10.84 on Friday, hitting $401.84. 2,360,990 shares of the company were exchanged, compared to its average volume of 2,430,212. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $404.13. The business's fifty day moving average is $344.59 and its two-hundred day moving average is $264.36.
GE Vernova Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend is Friday, December 20th.
GE Vernova announced that its board has initiated a share buyback plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.
GE Vernova Company Profile
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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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