Terra Nova Asset Management LLC Has $2.04 Million Stock Position in GE Vernova Inc. (NYSE:GEV)

Terra Nova Asset Management LLC grew its position in GE Vernova Inc. (NYSE:GEV) by 232.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,187 shares of the company’s stock after buying an additional 4,326 shares during the period. GE Vernova makes up 1.5% of Terra Nova Asset Management LLC’s portfolio, making the stock its 29th largest position. Terra Nova Asset Management LLC’s holdings in GE Vernova were worth $2,035,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Waverton Investment Management Ltd grew its holdings in shares of GE Vernova by 10.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock valued at $185,459,000 after buying an additional 66,455 shares during the period. Hanlon Investment Management Inc. acquired a new position in shares of GE Vernova in the 3rd quarter valued at $1,101,000. Atria Investments Inc grew its holdings in shares of GE Vernova by 127.0% in the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after buying an additional 2,847 shares during the period. Fractal Investments LLC acquired a new position in shares of GE Vernova in the 3rd quarter valued at $1,530,000. Finally, Legal & General Group Plc acquired a new position in shares of GE Vernova in the 2nd quarter valued at $293,699,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GEV shares. Barclays upped their target price 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. Morgan Stanley upped their target price on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Jefferies Financial Group upped their target price on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Wolfe Research started coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 target price for the company. Finally, Raymond James lowered shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $321.35.

GE Vernova Price Performance

GE Vernova stock opened at $401.84 on Monday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $404.13. The company’s 50-day moving average price is $344.59 and its two-hundred day moving average price is $264.36.

GE Vernova Announces Dividend

The business also recently declared 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 of this dividend is Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.25%.

GE Vernova declared that its board has authorized a stock buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.