HCR Wealth Advisors Purchases Shares of 796 GE Vernova Inc. (NYSE:GEV)

HCR Wealth Advisors acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 796 shares of the company’s stock, valued at approximately $262,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Armstrong Advisory Group Inc. lifted its holdings 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 acquiring an additional 27 shares during the last quarter. Wolff Wiese Magana LLC lifted its stake in shares of GE Vernova by 90.2% in the 4th quarter. Wolff Wiese Magana LLC now owns 194 shares of the company’s stock valued at $64,000 after purchasing an additional 92 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of GE Vernova by 62.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 347 shares of the company’s stock worth $114,000 after purchasing an additional 134 shares during the period. Park Avenue Securities LLC increased its position in shares of GE Vernova by 9.2% during the 4th quarter. Park Avenue Securities LLC now owns 8,744 shares of the company’s stock valued at $2,876,000 after purchasing an additional 735 shares during the last quarter. Finally, Kathmere Capital Management LLC purchased a new stake in GE Vernova during the 4th quarter valued at $451,000.

GE Vernova Price Performance

GEV opened at $390.86 on Friday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $397.76. The stock has a fifty day moving average price of $342.29 and a 200-day moving average price of $261.18.

GE Vernova Announces Dividend

The company 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 $0.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%.

GE Vernova announced that its Board of Directors has approved a stock repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of analyst reports. Hsbc Global Res cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 11th. Citigroup raised their price objective on shares of GE Vernova from $292.00 to $361.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Barclays upped their target price on GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Bank of America increased their price target on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $321.35.

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.