Sky Investment Group LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

Sky Investment Group LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 876 shares of the company's stock, valued at approximately $288,000.

Several other institutional investors have also modified their holdings of GEV. American Century Companies Inc. bought a new position in shares of GE Vernova during the 2nd quarter valued at about $4,940,000. XTX Topco Ltd bought a new position in shares of GE Vernova during the 2nd quarter valued at about $383,000. Intech Investment Management LLC bought a new position in shares of GE Vernova during the 2nd quarter valued at about $970,000. Brighton Jones LLC bought a new position in shares of GE Vernova during the 2nd quarter valued at about $361,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in GE Vernova in the 2nd quarter valued at approximately $368,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Evercore ISI lifted their target price on GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. TD Cowen assumed coverage on GE Vernova in a research report on Thursday, December 5th. They issued a "buy" rating and a $400.00 target price on the stock. Hsbc Global Res lowered GE Vernova from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 4th. Truist Financial boosted their price target on GE Vernova from $400.00 to $420.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Finally, Barclays boosted their price target on GE Vernova from $320.00 to $420.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $326.85.

GE Vernova Stock Performance

GEV traded up $15.27 during trading on Tuesday, hitting $416.68. The stock had a trading volume of 4,199,286 shares, compared to its average volume of 2,841,609. The company has a 50 day moving average price of $345.63 and a 200-day moving average price of $266.62. GE Vernova Inc. has a one year low of $115.00 and a one year high of $417.21.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be paid a $0.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.24%.

GE Vernova announced that its board has initiated a stock buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

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.