Verum Partners LLC Invests $239,000 in GE Vernova Inc. (NYSE:GEV)

Verum Partners LLC bought a new stake in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 728 shares of the company’s stock, valued at approximately $239,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Castleview Partners LLC purchased a new position in shares of GE Vernova during the 3rd quarter valued at about $28,000. Pathway Financial Advisers LLC bought a new position in GE Vernova during the second quarter valued at approximately $29,000. Covestor Ltd raised its stake in shares of GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in shares of GE Vernova during the third quarter worth approximately $31,000. Finally, Prestige Wealth Management Group LLC lifted its holdings in shares of GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 77 shares during the last quarter.

GE Vernova Price Performance

Shares of GEV opened at $416.68 on Wednesday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $417.21. The firm has a 50 day moving average of $345.63 and a 200 day moving average of $266.62.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Friday, December 20th.

GE Vernova declared that its Board of Directors has authorized a share buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have recently commented on GEV. Royal Bank of Canada reiterated an “outperform” rating and issued a $376.00 price objective on shares of GE Vernova in a report on Wednesday, December 11th. Guggenheim decreased 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. Wolfe Research initiated coverage on GE Vernova in a research note on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective for the company. Truist Financial lifted their target price on shares of GE Vernova from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Morgan Stanley increased their price target on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. 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’s stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $326.85.

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.