Capital Advisors Wealth Management LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

Capital Advisors Wealth Management LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 766 shares of the company's stock, valued at approximately $252,000.

A number of other hedge funds have also recently modified their holdings of the company. Armstrong Advisory Group Inc. grew its holdings in shares of GE Vernova by 3.5% during the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company's stock worth $262,000 after purchasing an additional 27 shares during the period. AdvisorNet Financial Inc lifted its position in GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company's stock valued at $611,000 after buying an additional 30 shares during the last quarter. Pittenger & Anderson Inc. boosted its stake in GE Vernova by 28.0% during the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company's stock worth $41,000 after buying an additional 35 shares during the period. Regent Peak Wealth Advisors LLC increased its position in shares of GE Vernova by 3.8% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 966 shares of the company's stock valued at $318,000 after acquiring an additional 35 shares during the last quarter. Finally, SteelPeak Wealth LLC raised its stake in shares of GE Vernova by 2.5% in the 3rd quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company's stock valued at $400,000 after acquiring an additional 38 shares during the period.

GE Vernova Trading Up 2.8 %

Shares of NYSE:GEV traded up $10.84 on Friday, hitting $401.84. 2,360,990 shares of the company's stock were exchanged, compared to its average volume of 2,720,004. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $404.13. The firm's 50-day moving average is $343.37 and its 200 day moving average is $262.08.

GE Vernova declared that its board has initiated a stock repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Friday, December 20th.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of research analyst reports. BMO Capital Markets increased their price objective on shares of GE Vernova from $245.00 to $288.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. Truist Financial raised their price target on GE Vernova from $400.00 to $420.00 and gave the stock a "buy" rating in a research report on Thursday. The Goldman Sachs Group lifted their price objective on GE Vernova from $400.00 to $446.00 and gave the company a "buy" rating in a research note on Thursday. Royal Bank of Canada reissued an "outperform" rating and set a $376.00 target price on shares of GE Vernova in a research note on Wednesday, December 11th. Finally, Oppenheimer initiated coverage on GE Vernova in a research report on Thursday, September 26th. They issued a "market perform" rating for the company. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $321.35.

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.