GE Vernova Inc. (NYSE:GEV) is Oliver Luxxe Assets LLC’s 9th Largest Position

Oliver Luxxe Assets LLC lessened its holdings in GE Vernova Inc. (NYSE:GEV) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,778 shares of the company’s stock after selling 281 shares during the period. GE Vernova accounts for approximately 1.5% of Oliver Luxxe Assets LLC’s portfolio, making the stock its 9th largest holding. Oliver Luxxe Assets LLC’s holdings in GE Vernova were worth $8,808,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GEV. Castleview Partners LLC acquired a new position in shares of GE Vernova in the third quarter valued at approximately $28,000. Covestor Ltd grew its stake in GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the period. Darwin Wealth Management LLC acquired a new position in GE Vernova in the 3rd quarter valued at $31,000. Prestige Wealth Management Group LLC lifted its stake in shares of GE Vernova by 175.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares during the period. Finally, Planning Capital Management Corp boosted its holdings in shares of GE Vernova by 1,000.0% during the third quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock worth $36,000 after purchasing an additional 130 shares during the last quarter.

GE Vernova Trading Up 4.3 %

GEV traded up $15.20 on Monday, reaching $369.23. The company’s stock had a trading volume of 2,799,255 shares, compared to its average volume of 2,518,089. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $376.30. The business’s 50 day moving average is $331.58 and its 200 day moving average is $250.83.

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

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders 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 dividend yield of 0.27%. The ex-dividend date is Friday, December 20th.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GEV shares. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 11th. Citigroup raised their target price on shares of GE Vernova from $292.00 to $361.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Raymond James lowered shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Morgan Stanley lifted their price target on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Guggenheim dropped their price objective on GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $314.35.

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.