GE Vernova Inc. (NYSE:GEV) Shares Bought by Davis Investment Partners LLC

Davis Investment Partners LLC boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 46.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,671 shares of the company’s stock after purchasing an additional 527 shares during the quarter. Davis Investment Partners LLC’s holdings in GE Vernova were worth $550,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. acquired a new stake in shares of GE Vernova in the second quarter worth approximately $25,000. Spectrum Wealth Counsel LLC purchased a new stake in shares of GE Vernova in the second quarter valued at about $27,000. Castleview Partners LLC purchased a new position in GE Vernova during the third quarter worth about $28,000. Pathway Financial Advisers LLC acquired a new position in shares of GE Vernova in the 2nd quarter valued at $29,000. Finally, Glass Jacobson Investment Advisors llc acquired a new position in shares of GE Vernova in the 2nd quarter worth approximately $30,000.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GEV shares. Wolfe Research initiated coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on GE Vernova from $356.00 to $367.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. BMO Capital Markets lifted their price target on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Morgan Stanley upped their target price on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Wells Fargo & Company lifted their price target on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $314.35.

GE Vernova Price Performance

NYSE:GEV traded down $0.96 during trading hours on Monday, hitting $366.14. 3,017,119 shares of the company traded hands, compared to its average volume of 2,796,410. The firm has a 50-day moving average of $338.55 and a 200 day moving average of $257.48. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month 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 given a dividend of $0.25 per share. The ex-dividend date is Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.27%.

GE Vernova declared that its Board of Directors has initiated a share buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board 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.