Murphy Middleton Hinkle & Parker Inc. acquired a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 714 shares of the company's stock, valued at approximately $235,000.
Other institutional investors have also recently modified their holdings of the company. Armstrong Advisory Group Inc. grew its stake in shares of GE Vernova by 3.5% during the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company's stock valued at $262,000 after buying an additional 27 shares during the last quarter. AdvisorNet Financial Inc grew its position in GE Vernova by 1.6% during the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company's stock worth $611,000 after acquiring an additional 30 shares during the last quarter. Pittenger & Anderson Inc. increased its stake in GE Vernova by 28.0% in the 3rd quarter. Pittenger & Anderson Inc. now owns 160 shares of the company's stock worth $41,000 after purchasing an additional 35 shares during the period. Regent Peak Wealth Advisors LLC lifted its position in GE Vernova by 3.8% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 966 shares of the company's stock valued at $318,000 after purchasing an additional 35 shares during the last quarter. Finally, SteelPeak Wealth LLC boosted its stake in shares of GE Vernova by 2.5% during the third quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company's stock valued at $400,000 after purchasing an additional 38 shares during the period.
GE Vernova Trading Up 2.8 %
GE Vernova stock traded up $10.84 during mid-day trading on Friday, hitting $401.84. The company had a trading volume of 2,360,990 shares, compared to its average volume of 2,430,212. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $404.13. The stock's 50 day moving average price is $344.59 and its two-hundred day moving average price is $264.36.
GE Vernova Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Friday, December 20th.
GE Vernova declared that its Board of Directors has initiated a stock repurchase program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on GEV. Guggenheim decreased their target price on shares of GE Vernova from $400.00 to $380.00 and set a "buy" rating on the stock in a research note on Wednesday, December 11th. Wells Fargo & Company boosted their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. Hsbc Global Res lowered shares of GE Vernova from a "strong-buy" rating to a "hold" rating in a report on Friday, October 4th. The Goldman Sachs Group boosted their price target on GE Vernova from $400.00 to $446.00 and gave the company a "buy" rating in a report on Thursday. Finally, Truist Financial upped their price target on GE Vernova from $400.00 to $420.00 and gave the company a "buy" rating in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $321.35.
View Our Latest Stock Analysis on GE Vernova
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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