MML Investors Services LLC Increases Stake in GE Vernova Inc. (NYSE:GEV)

MML Investors Services LLC grew its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 45.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,418 shares of the company's stock after acquiring an additional 9,537 shares during the quarter. MML Investors Services LLC's holdings in GE Vernova were worth $7,756,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Pittenger & Anderson Inc. increased its stake in shares of GE Vernova by 28.0% in 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. SteelPeak Wealth LLC boosted its holdings in GE Vernova by 2.5% in the third quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company's stock valued at $400,000 after acquiring an additional 38 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in GE Vernova by 0.9% in the third quarter. Global Retirement Partners LLC now owns 4,507 shares of the company's stock valued at $1,149,000 after acquiring an additional 40 shares in the last quarter. Whittier Trust Co. boosted its holdings in GE Vernova by 1.9% in the third quarter. Whittier Trust Co. now owns 2,106 shares of the company's stock valued at $537,000 after acquiring an additional 40 shares in the last quarter. Finally, Dunhill Financial LLC boosted its holdings in GE Vernova by 21.6% in the third quarter. Dunhill Financial LLC now owns 225 shares of the company's stock valued at $57,000 after acquiring an additional 40 shares in the last quarter.

GE Vernova Price Performance

NYSE GEV traded down $13.89 on Thursday, reaching $329.91. 2,939,790 shares of the stock were exchanged, compared to its average volume of 3,450,972. GE Vernova Inc. has a one year low of $115.00 and a one year high of $357.09. The company's 50-day simple moving average is $309.70 and its two-hundred day simple moving average is $230.69.

GE Vernova announced that its Board of Directors has initiated a share repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

GE Vernova Announces Dividend

The company 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Friday, December 20th.

Analysts Set New Price Targets

Several analysts recently weighed in on GEV shares. William Blair reiterated an "outperform" rating on shares of GE Vernova in a report on Wednesday. Evercore ISI lifted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a report on Wednesday. Guggenheim dropped their target price on shares of GE Vernova from $400.00 to $380.00 and set a "buy" rating on the stock in a report on Wednesday. Bank of America boosted their target price on shares of GE Vernova from $300.00 to $320.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $376.00 price target on shares of GE Vernova in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $310.98.

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.