Merit Financial Group LLC Has $2.17 Million Position in GE Vernova Inc. (NYSE:GEV)

Merit Financial Group LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 23.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,605 shares of the company's stock after buying an additional 1,270 shares during the quarter. Merit Financial Group LLC's holdings in GE Vernova were worth $2,173,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Barclays upped their price objective on shares of GE Vernova from $320.00 to $420.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. The Goldman Sachs Group increased their price target on shares of GE Vernova from $400.00 to $446.00 and gave the stock a "buy" rating in a research note on Thursday. William Blair reissued an "outperform" rating on shares of GE Vernova in a research note on Wednesday, December 11th. Wells Fargo & Company upped their price objective on GE Vernova from $385.00 to $411.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Finally, Morgan Stanley boosted 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. Seven equities research 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 MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and an average target price of $321.35.

GE Vernova Stock Performance

Shares of GEV stock traded up $10.84 during trading on Monday, reaching $401.84. The company's stock had a trading volume of 2,360,990 shares, compared to its average volume of 2,430,212. GE Vernova Inc. has a one year low of $115.00 and a one year high of $404.13. The business has a fifty day moving average price of $344.59 and a 200-day moving average price of $265.01.

GE Vernova Announces Dividend

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 issued a dividend of $0.25 per share. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.25%.

GE Vernova announced that its Board of Directors has approved a stock repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

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.