GE Vernova Inc. (NYSE:GEV) Stock Position Boosted by World Investment Advisors LLC

World Investment Advisors LLC grew its stake in shares of GE Vernova Inc. (NYSE:GEV) by 41.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,876 shares of the company’s stock after buying an additional 842 shares during the quarter. World Investment Advisors LLC’s holdings in GE Vernova were worth $733,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GEV. Mountaineer Partners Management LLC bought a new stake in GE Vernova during the third quarter worth approximately $2,507,296,000. Newport Trust Company LLC acquired a new position in shares of GE Vernova during the 2nd quarter valued at $650,140,000. Bank of New York Mellon Corp bought a new stake in shares of GE Vernova in the 2nd quarter worth $537,674,000. Marshall Wace LLP acquired a new stake in shares of GE Vernova in the second quarter valued at $399,770,000. Finally, Legal & General Group Plc acquired a new stake in shares of GE Vernova in the second quarter valued at $293,699,000.

GE Vernova Price Performance

GEV opened at $337.77 on Tuesday. The stock has a fifty day moving average price of $314.04 and a 200 day moving average price of $234.37. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $357.09.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be issued 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 0.30%.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Truist Financial lifted their target price on GE Vernova from $325.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 target price on the stock. Bank of America raised their target price on shares of GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Barclays upped their price target on GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, Wolfe Research assumed 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. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $314.35.

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.