Fiduciary Alliance LLC Makes New Investment in GE Vernova Inc. (NYSE:GEV)

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

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Mountaineer Partners Management LLC acquired a new position in shares of GE Vernova in the 3rd quarter valued at $2,507,296,000. Newport Trust Company LLC acquired a new position in GE Vernova in the second quarter valued at about $650,140,000. Marshall Wace LLP bought a new position in GE Vernova during the second quarter worth about $399,770,000. Legal & General Group Plc acquired a new position in shares of GE Vernova during the 2nd quarter worth about $293,699,000. Finally, Electron Capital Partners LLC increased its stake in shares of GE Vernova by 1,641.3% in the 2nd quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock valued at $290,589,000 after acquiring an additional 1,596,996 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GEV shares. Raymond James lowered shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. BMO Capital Markets boosted their price target on shares of GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a report on Monday, October 14th. The Goldman Sachs Group raised their price objective on GE Vernova from $324.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Hsbc Global Res cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Finally, Guggenheim dropped their price target 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. Seven equities 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.35.

GE Vernova Price Performance

NYSE:GEV opened at $366.14 on Tuesday. The firm has a fifty day simple moving average of $339.96 and a 200 day simple moving average of $258.81. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $376.30.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.27%.

GE Vernova declared that its board has approved a share repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to reacquire 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.

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.