Sanctuary Advisors LLC Grows Holdings in GE Vernova Inc. (NYSE:GEV)

Sanctuary Advisors LLC grew its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 24.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,969 shares of the company's stock after acquiring an additional 4,333 shares during the quarter. Sanctuary Advisors LLC's holdings in GE Vernova were worth $5,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Waverton Investment Management Ltd boosted its holdings in GE Vernova by 10.0% during the third quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company's stock worth $185,459,000 after purchasing an additional 66,455 shares during the last quarter. Hanlon Investment Management Inc. bought a new position in shares of GE Vernova during the 3rd quarter worth approximately $1,101,000. Atria Investments Inc boosted its stake in shares of GE Vernova by 127.0% in the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company's stock worth $1,297,000 after buying an additional 2,847 shares during the last quarter. Fractal Investments LLC bought a new position in shares of GE Vernova in the third quarter valued at approximately $1,530,000. Finally, Legal & General Group Plc purchased a new stake in shares of GE Vernova during the second quarter valued at approximately $293,699,000.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft initiated coverage on GE Vernova in a research report on Monday, October 21st. They issued a "buy" rating and a $354.00 price objective on the stock. Jefferies Financial Group increased 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. Bank of America lifted their price objective on shares of GE Vernova from $300.00 to $320.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Raymond James downgraded shares of GE Vernova from an "outperform" rating to a "market perform" rating in a research report on Wednesday, October 2nd. Finally, Truist Financial raised their price target on shares of GE Vernova from $325.00 to $400.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Seven 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's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $314.35.

GE Vernova Stock Up 1.7 %

NYSE:GEV traded up $5.76 during trading hours on Monday, hitting $337.77. The stock had a trading volume of 4,229,015 shares, compared to its average volume of 3,454,495. The company has a 50 day simple moving average of $312.53 and a two-hundred day simple moving average of $233.23. GE Vernova Inc. has a one year low of $115.00 and a one year high of $357.09.

GE Vernova Dividend Announcement

The firm also recently disclosed 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. This represents a $1.00 annualized dividend and a yield of 0.30%. The ex-dividend date is Friday, December 20th.

GE Vernova announced that its board has authorized 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 reacquire up to 6.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership 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.