HCR Wealth Advisors Invests $262,000 in GE Vernova Inc. (NYSE:GEV)

HCR Wealth Advisors purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 796 shares of the company's stock, valued at approximately $262,000.

Several other hedge funds have also recently added to or reduced their stakes in GEV. Armstrong Advisory Group Inc. increased its stake in GE Vernova by 3.5% in 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 raised 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 valued at $611,000 after purchasing an additional 30 shares during the last quarter. Pittenger & Anderson Inc. grew its position in shares of 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 buying an additional 35 shares during the last quarter. Regent Peak Wealth Advisors LLC increased its stake 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 buying an additional 35 shares during the period. Finally, SteelPeak Wealth LLC lifted its stake in GE Vernova by 2.5% in the third quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company's stock worth $400,000 after acquiring an additional 38 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GEV shares. Bank of America boosted their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the company a "buy" rating in a research report on Tuesday. BMO Capital Markets increased their price objective on shares of GE Vernova from $245.00 to $288.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Wolfe Research assumed coverage on GE Vernova in a research report on Wednesday, December 4th. They set an "outperform" rating and a $403.00 target price on the stock. Royal Bank of Canada restated an "outperform" rating and set a $376.00 target price on shares of GE Vernova in a research note on Wednesday, December 11th. Finally, Citigroup increased their target price on GE Vernova from $292.00 to $361.00 and gave the company a "neutral" rating in a research report on Monday, December 9th. 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $321.35.

GE Vernova Trading Up 2.8 %

Shares of NYSE GEV traded up $10.93 during mid-day trading on Friday, hitting $401.93. 1,860,931 shares of the company traded hands, compared to its average volume of 2,667,412. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $404.13. The business has a 50 day moving average of $342.29 and a two-hundred day moving average of $261.18.

GE Vernova declared that its Board of Directors has approved a stock repurchase program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

GE Vernova Announces Dividend

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

GE Vernova 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.