Davis Investment Partners LLC Acquires 527 Shares of GE Vernova Inc. (NYSE:GEV)

Davis Investment Partners LLC lifted its stake 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 period. Davis Investment Partners LLC’s holdings in GE Vernova were worth $550,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. bought a new stake in GE Vernova during the 2nd quarter worth about $25,000. Spectrum Wealth Counsel LLC bought a new stake in shares of GE Vernova during the second quarter worth approximately $27,000. Castleview Partners LLC acquired a new position in GE Vernova in the third quarter valued at approximately $28,000. Pathway Financial Advisers LLC bought a new position in GE Vernova in the second quarter valued at approximately $29,000. Finally, Glass Jacobson Investment Advisors llc acquired a new stake in GE Vernova during the 2nd quarter worth $30,000.

GE Vernova Stock Down 0.3 %

GEV stock traded down $0.96 during midday trading on Monday, hitting $366.14. The company’s stock had a trading volume of 3,017,119 shares, compared to its average volume of 2,796,410. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $376.30. The company’s fifty day moving average price is $338.55 and its 200 day moving average price is $257.48.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date is Friday, December 20th.

GE Vernova declared that its board has authorized a stock buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GEV. Truist Financial increased their price target on GE Vernova from $325.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. BMO Capital Markets raised their target price on GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Hsbc Global Res lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. 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 report on Thursday, December 5th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $356.00 to $367.00 and gave the company an “overweight” rating 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.