Terra Nova Asset Management LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 232.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,187 shares of the company's stock after purchasing an additional 4,326 shares during the period. GE Vernova comprises 1.5% of Terra Nova Asset Management LLC's investment portfolio, making the stock its 29th largest holding. Terra Nova Asset Management LLC's holdings in GE Vernova were worth $2,035,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Armstrong Advisory Group Inc. grew its position in shares of GE Vernova by 3.5% in the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company's stock valued at $262,000 after buying an additional 27 shares during the last quarter. AdvisorNet Financial Inc increased its position in shares of GE Vernova by 1.6% during the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company's stock worth $611,000 after buying an additional 30 shares during the period. Pittenger & Anderson Inc. raised its stake in GE Vernova by 28.0% during 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 last quarter. Regent Peak Wealth Advisors LLC grew its holdings in GE Vernova by 3.8% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 966 shares of the company's stock worth $318,000 after acquiring an additional 35 shares during the period. Finally, SteelPeak Wealth LLC boosted its position in shares of GE Vernova by 2.5% during the 3rd quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company's stock valued at $400,000 after purchasing an additional 38 shares in the last quarter.
Wall Street Analyst Weigh In
A number of research firms have commented on GEV. Evercore ISI raised their price target on shares of GE Vernova from $385.00 to $390.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. Wolfe Research assumed coverage on GE Vernova in a research note on Wednesday, December 4th. They set an "outperform" rating and a $403.00 price target on the stock. Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a research note on Monday, October 21st. They issued a "buy" rating and a $354.00 price objective for the company. Raymond James cut GE Vernova from an "outperform" rating to a "market perform" rating in a report on Wednesday, October 2nd. Finally, Guggenheim reduced their price target on shares of GE Vernova from $400.00 to $380.00 and set a "buy" rating for the company in a research report on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $321.35.
Check Out Our Latest Stock Analysis on GEV
GE Vernova Price Performance
Shares of NYSE GEV traded up $10.84 during mid-day trading on Monday, hitting $401.84. The company had a trading volume of 2,360,990 shares, compared to its average volume of 2,430,212. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $404.13. The stock's 50-day moving average price is $344.59 and its 200-day moving average price is $265.01.
GE Vernova declared that its board has approved a share repurchase 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 typically a sign that the company's management believes its shares are undervalued.
GE Vernova Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Friday, December 20th.
GE Vernova Company Profile
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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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