RDA Financial Network Purchases New Shares in GE Vernova Inc. (NYSE:GEV)

RDA Financial Network bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 681 shares of the company's stock, valued at approximately $224,000.

Several other hedge funds also recently made changes to their positions in the company. Yarbrough Capital LLC increased its stake in shares of GE Vernova by 67.2% during the fourth quarter. Yarbrough Capital LLC now owns 2,886 shares of the company's stock valued at $949,000 after purchasing an additional 1,160 shares in the last quarter. Empirical Asset Management LLC bought a new position in GE Vernova during the 4th quarter valued at approximately $624,000. Bouvel Investment Partners LLC raised its stake in GE Vernova by 0.7% during the fourth quarter. Bouvel Investment Partners LLC now owns 6,013 shares of the company's stock valued at $1,978,000 after buying an additional 42 shares during the last quarter. Harbor Group Inc. purchased a new position in GE Vernova during the fourth quarter valued at $252,000. Finally, Capital Advisors Wealth Management LLC purchased a new stake in shares of GE Vernova in the fourth quarter worth $252,000.

Analysts Set New Price Targets

GEV has been the subject of several recent analyst reports. Bank of America lifted their price target on GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a research report on Tuesday. 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 research note on Wednesday, December 11th. Citigroup raised their price target on shares of GE Vernova from $292.00 to $361.00 and gave the company a "neutral" rating in a research report on Monday, December 9th. Oppenheimer began coverage on GE Vernova in a research note on Thursday, September 26th. They set a "market perform" rating on the stock. Finally, Wells Fargo & Company boosted their price target on GE Vernova from $385.00 to $411.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th. Seven research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $321.35.

GE Vernova Trading Up 2.8 %

GEV stock traded up $10.84 during midday trading on Friday, hitting $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 12 month low of $115.00 and a 12 month high of $404.13. The company has a 50 day moving average of $344.59 and a two-hundred day moving average of $263.70.

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

GE Vernova Announces Dividend

The business 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 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%.

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.