Park Avenue Securities LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 9.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,744 shares of the company's stock after purchasing an additional 735 shares during the period. Park Avenue Securities LLC's holdings in GE Vernova were worth $2,876,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Mountaineer Partners Management LLC acquired a new stake in GE Vernova during the third quarter worth approximately $2,507,296,000. Newport Trust Company LLC purchased a new position in shares of GE Vernova in the 2nd quarter valued at $650,140,000. Marshall Wace LLP acquired a new stake in GE Vernova during the 2nd quarter worth $399,770,000. Legal & General Group Plc purchased a new stake in GE Vernova in the second quarter valued at $293,699,000. Finally, Electron Capital Partners LLC boosted its stake in GE Vernova by 1,641.3% in the second quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company's stock valued at $290,589,000 after acquiring an additional 1,596,996 shares in the last quarter.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on GEV shares. The Goldman Sachs Group lifted their target price on GE Vernova from $400.00 to $446.00 and gave the stock a "buy" rating in a research report on Thursday. BMO Capital Markets lifted their price target on GE Vernova from $245.00 to $288.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. Oppenheimer started coverage on GE Vernova in a report on Thursday, September 26th. They issued a "market perform" rating for the company. Wells Fargo & Company lifted their target price on shares of GE Vernova from $385.00 to $411.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Finally, Jefferies Financial Group upped their price target on shares of GE Vernova from $348.00 to $391.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Seven investment 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 company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $321.35.
Get Our Latest Stock Analysis on GE Vernova
GE Vernova Trading Up 2.8 %
GE Vernova stock traded up $10.84 during mid-day trading on Friday, reaching $401.84. The company had a trading volume of 2,360,990 shares, compared to its average volume of 2,430,212. The stock's 50-day simple moving average is $344.59 and its 200-day simple moving average is $263.70. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $404.13.
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 yield of 0.25%.
GE Vernova announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.
GE Vernova Company Profile
(
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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