Harbor Group Inc. purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 766 shares of the company's stock, valued at approximately $252,000.
Several other hedge funds and other institutional investors have also bought and sold shares of GEV. Castleview Partners LLC purchased a new position in GE Vernova in the third quarter valued at about $28,000. Covestor Ltd raised its holdings in shares of GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company's stock worth $31,000 after purchasing an additional 46 shares during the period. Darwin Wealth Management LLC bought a new stake in shares of GE Vernova in the 3rd quarter worth approximately $31,000. Prestige Wealth Management Group LLC lifted its stake in GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company's stock valued at $31,000 after purchasing an additional 77 shares during the last quarter. Finally, Planning Capital Management Corp grew its holdings in GE Vernova by 1,000.0% during the third quarter. Planning Capital Management Corp now owns 143 shares of the company's stock valued at $36,000 after purchasing an additional 130 shares during the period.
GE Vernova Price Performance
Shares of NYSE:GEV traded up $10.84 during trading on Friday, reaching $401.84. The company had a trading volume of 2,360,990 shares, compared to its average volume of 2,720,004. The company has a fifty day moving average of $343.37 and a two-hundred day moving average of $262.08. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $404.13.
GE Vernova announced that its Board of Directors has initiated a stock buyback program 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 programs are usually an indication that the company's leadership believes its stock is undervalued.
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 paid a $0.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.25%.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on GEV. Morgan Stanley upped their price target on GE Vernova from $301.00 to $367.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Wolfe Research started coverage on shares of GE Vernova in a report on Wednesday, December 4th. They set an "outperform" rating and a $403.00 price objective on the stock. William Blair reiterated an "outperform" rating on shares of GE Vernova in a research report on Wednesday, December 11th. TD Cowen assumed coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a "buy" rating and a $400.00 price target on the stock. Finally, The Goldman Sachs Group raised their price objective on shares of GE Vernova from $400.00 to $446.00 and gave the stock a "buy" rating in a report on Thursday. Seven 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 stock. Based on data from MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and an average target price of $321.35.
Check Out Our Latest Stock Report on GEV
About GE Vernova
(
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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