Fiduciary Alliance LLC Takes $1.58 Million Position in GE Vernova Inc. (NYSE:GEV)

Fiduciary Alliance LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,792 shares of the company’s stock, valued at approximately $1,576,000.

Several other hedge funds have also recently bought and sold shares of the business. Czech National Bank grew its holdings in GE Vernova by 6.8% during the fourth quarter. Czech National Bank now owns 59,767 shares of the company’s stock valued at $19,659,000 after purchasing an additional 3,787 shares during the last quarter. West Oak Capital LLC grew its stake in GE Vernova by 1,811.8% in the 4th quarter. West Oak Capital LLC now owns 325 shares of the company’s stock valued at $107,000 after buying an additional 308 shares during the last quarter. Graypoint LLC raised its holdings in GE Vernova by 3.3% in the 4th quarter. Graypoint LLC now owns 2,220 shares of the company’s stock worth $730,000 after acquiring an additional 70 shares during the period. ST Germain D J Co. Inc. lifted its position in GE Vernova by 20.8% during the 4th quarter. ST Germain D J Co. Inc. now owns 2,391 shares of the company’s stock worth $787,000 after acquiring an additional 412 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in GE Vernova by 1.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 116,346 shares of the company’s stock valued at $38,270,000 after acquiring an additional 1,203 shares during the period.

GE Vernova Stock Performance

NYSE GEV opened at $366.14 on Tuesday. The stock’s 50 day simple moving average is $339.96 and its 200 day simple moving average is $258.81. GE Vernova Inc. has a one year low of $115.00 and a one year high of $376.30.

GE Vernova Announces Dividend

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 $0.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%.

GE Vernova announced that its Board of Directors has approved a share 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 shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GEV shares. JPMorgan Chase & Co. boosted their price objective on GE Vernova from $356.00 to $367.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. BMO Capital Markets upped their price target on GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft began coverage on shares of GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective on the stock. Hsbc Global Res downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Finally, Jefferies Financial Group boosted their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus 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.