Verum Partners LLC Purchases Shares of 728 GE Vernova Inc. (NYSE:GEV)

Verum Partners LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 728 shares of the company’s stock, valued at approximately $239,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GEV. Castleview Partners LLC acquired a new position in GE Vernova in the third quarter worth $28,000. Covestor Ltd lifted its position in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in GE Vernova during the 3rd quarter worth about $31,000. Prestige Wealth Management Group LLC grew its holdings in 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 acquiring an additional 77 shares during the last quarter. Finally, Planning Capital Management Corp increased its position in GE Vernova by 1,000.0% in the 3rd quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock valued at $36,000 after acquiring an additional 130 shares in the last quarter.

GE Vernova Stock Up 3.8 %

NYSE GEV opened at $416.68 on Wednesday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $417.21. The firm’s 50-day simple moving average is $345.63 and its two-hundred day simple moving average is $266.62.

GE Vernova announced that its board has initiated 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 reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend is Friday, December 20th.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Barclays increased their price target on shares of GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. HSBC reissued a “hold” rating and issued a $255.00 target price (up from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Oppenheimer started coverage on GE Vernova in a research note on Thursday, September 26th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. lifted their price objective on GE Vernova from $367.00 to $374.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 14th. Finally, Evercore ISI upped their target price on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.85.

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.