Czech National Bank Boosts Holdings in GE Vernova Inc. (NYSE:GEV)

Czech National Bank raised its position in GE Vernova Inc. (NYSE:GEV) by 6.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 59,767 shares of the company’s stock after acquiring an additional 3,787 shares during the quarter. Czech National Bank’s holdings in GE Vernova were worth $19,659,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of GEV. Waverton Investment Management Ltd boosted its position 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 worth $185,459,000 after purchasing an additional 66,455 shares in the last quarter. Hanlon Investment Management Inc. acquired a new stake in GE Vernova in the third quarter worth about $1,101,000. Atria Investments Inc grew its stake in shares of GE Vernova by 127.0% during the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after acquiring an additional 2,847 shares during the last quarter. Fractal Investments LLC acquired a new position in shares of GE Vernova during the third quarter valued at about $1,530,000. Finally, Legal & General Group Plc acquired a new stake in GE Vernova in the 2nd quarter worth approximately $293,699,000.

GE Vernova Price Performance

Shares of GEV opened at $367.53 on Monday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $376.30. The stock’s 50 day moving average is $338.55 and its two-hundred day moving average is $257.48.

GE Vernova Announces Dividend

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

GE Vernova declared that its board has authorized a share buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have issued reports on GEV shares. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 11th. Guggenheim cut their target price on GE Vernova from $400.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. 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. Jefferies Financial Group increased their price objective on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. lifted their target price on GE Vernova from $356.00 to $367.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $314.35.

About GE Vernova

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.