Virtu Financial LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

Virtu Financial LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,809 shares of the company's stock, valued at approximately $1,481,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of GEV. FMR LLC raised its holdings in shares of GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company's stock valued at $6,131,677,000 after purchasing an additional 584,208 shares in the last quarter. State Street Corp raised its stake in GE Vernova by 1.1% in the third quarter. State Street Corp now owns 10,434,917 shares of the company's stock worth $2,660,695,000 after buying an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC purchased a new stake in GE Vernova during the third quarter worth $2,507,296,000. Geode Capital Management LLC boosted its position in GE Vernova by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company's stock valued at $1,420,763,000 after acquiring an additional 80,479 shares in the last quarter. Finally, Newport Trust Company LLC bought a new stake in GE Vernova during the 2nd quarter valued at $650,140,000.

GE Vernova Stock Up 0.6 %

GE Vernova stock traded up $2.10 during midday trading on Friday, hitting $332.01. 2,743,238 shares of the company were exchanged, compared to its average volume of 3,450,213. The business has a fifty day simple moving average of $311.20 and a two-hundred day simple moving average of $231.38. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $357.09.

GE Vernova announced that its board has approved a stock buyback plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend is Friday, December 20th.

Analysts Set New Price Targets

Several research analysts have recently commented on GEV shares. BMO Capital Markets boosted their price target on GE Vernova from $245.00 to $288.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. The Goldman Sachs Group increased their price target on shares of GE Vernova from $324.00 to $400.00 and gave the company a "buy" rating in a research report on Thursday. Bank of America raised their price target on shares of GE Vernova from $300.00 to $320.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Barclays boosted their price objective on shares of GE Vernova from $320.00 to $420.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company raised their target price on shares of GE Vernova from $385.00 to $411.00 and gave the company an "overweight" rating in a research note on Friday. Seven 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 MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and a consensus target price of $314.35.

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.