Triangle Securities Wealth Management Makes New $213,000 Investment in GE Vernova Inc. (NYSE:GEV)

Triangle Securities Wealth Management acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 649 shares of the company's stock, valued at approximately $213,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. purchased a new position in shares of GE Vernova during the second quarter worth approximately $4,940,000. XTX Topco Ltd bought a new position in GE Vernova in the second quarter worth approximately $383,000. Intech Investment Management LLC purchased a new position in GE Vernova during the 2nd quarter worth $970,000. Brighton Jones LLC bought a new stake in GE Vernova during the 2nd quarter valued at $361,000. Finally, Ieq Capital LLC purchased a new stake in shares of GE Vernova in the 2nd quarter worth $2,027,000.

Wall Street Analysts Forecast Growth

GEV has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a report on Monday, October 21st. They set a "buy" rating and a $354.00 target price on the stock. Truist Financial boosted their price objective on shares of GE Vernova from $400.00 to $420.00 and gave the stock a "buy" rating in a research note on Thursday. Guggenheim dropped their target price on GE Vernova from $400.00 to $380.00 and set a "buy" rating on the stock in a research report on Wednesday, December 11th. Royal Bank of Canada reiterated an "outperform" rating and issued a $376.00 price target on shares of GE Vernova in a report on Wednesday, December 11th. Finally, Wells Fargo & Company upped their price objective 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 given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova has a consensus rating of "Moderate Buy" and an average target price of $321.35.

GE Vernova Stock Performance

GEV traded up $10.84 during trading on Monday, reaching $401.84. 2,360,990 shares of the company's stock were exchanged, 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 company's fifty day simple moving average is $344.59 and its 200-day simple moving average is $265.01.

GE Vernova Dividend Announcement

The firm also recently announced 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 dividend yield of 0.25%.

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

GE Vernova Company 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.