Marcum Wealth LLC Buys Shares of 884 GE Vernova Inc. (NYSE:GEV)

Marcum Wealth LLC purchased a new position in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 884 shares of the company’s stock, valued at approximately $291,000.

Several other institutional investors and hedge funds have also made changes to their positions in GEV. Acadian Asset Management LLC acquired a new position in GE Vernova in the 2nd quarter valued at about $375,000. American Century Companies Inc. purchased a new stake in shares of GE Vernova during the second quarter worth about $4,940,000. Parallel Advisors LLC acquired a new position in shares of GE Vernova in the second quarter valued at approximately $670,000. Thoroughbred Financial Services LLC purchased a new position in shares of GE Vernova during the second quarter valued at approximately $251,000. Finally, Envestnet Asset Management Inc. acquired a new stake in GE Vernova during the second quarter worth approximately $45,674,000.

GE Vernova Trading Up 4.1 %

GEV opened at $381.73 on Wednesday. The firm’s 50 day moving average is $341.28 and its 200-day moving average is $260.29. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $388.88.

GE Vernova declared that its board has approved a stock buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.26%. The ex-dividend date is Friday, December 20th.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GEV shares. Guggenheim reduced their price target on GE Vernova from $400.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. TD Cowen assumed coverage on GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on GE Vernova from $367.00 to $374.00 and gave the company an “overweight” rating in a report on Tuesday. Truist Financial increased their price objective on shares of GE Vernova from $325.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $376.00 target price on shares of GE Vernova in a report on Wednesday, December 11th. Seven research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $318.60.

GE Vernova Company 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.