GE Vernova Inc. (NYSE:GEV) Stock Position Lifted by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 6.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 16,575 shares of the company's stock after purchasing an additional 1,061 shares during the quarter. Gateway Investment Advisers LLC's holdings in GE Vernova were worth $5,452,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Castleview Partners LLC acquired a new stake in shares of GE Vernova in the third quarter worth $28,000. Pathway Financial Advisers LLC purchased a new stake in GE Vernova during the 2nd quarter worth $29,000. Glass Jacobson Investment Advisors llc acquired a new stake in GE Vernova in the 2nd quarter valued at $30,000. Covestor Ltd raised its position in GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company's stock valued at $31,000 after purchasing an additional 46 shares during the period. Finally, Darwin Wealth Management LLC acquired a new position in shares of GE Vernova during the third quarter worth about $31,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GEV shares. JPMorgan Chase & Co. raised their target price on GE Vernova from $367.00 to $374.00 and gave the company an "overweight" rating in a report on Tuesday. Wolfe Research began coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They set an "outperform" rating and a $403.00 price objective on the stock. Morgan Stanley upped their target price on shares of GE Vernova from $301.00 to $367.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Truist Financial lifted their price target on shares of GE Vernova from $400.00 to $420.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $376.00 price objective on shares of GE Vernova in a research report on Wednesday, December 11th. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $321.35.

GE Vernova Trading Up 2.8 %

Shares of NYSE GEV 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 firm's 50 day simple moving average is $344.59 and its two-hundred day simple moving average is $263.70.

GE Vernova declared that its board has approved 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 reacquire up to 6.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders 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 of this dividend is Friday, December 20th.

About GE Vernova

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.