Tidal Investments LLC Acquires 374 Shares of GE Vernova Inc. (NYSE:GEV)

Tidal Investments LLC raised its holdings in GE Vernova Inc. (NYSE:GEV) by 5.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,271 shares of the company’s stock after purchasing an additional 374 shares during the period. Tidal Investments LLC’s holdings in GE Vernova were worth $1,854,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Castleview Partners LLC bought a new stake in GE Vernova in the 3rd quarter valued at about $28,000. Covestor Ltd raised its position in shares of GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 46 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of GE Vernova in the 3rd quarter valued at approximately $31,000. Prestige Wealth Management Group LLC raised its position 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 valued at $31,000 after buying an additional 77 shares in the last quarter. Finally, Planning Capital Management Corp raised its position in shares of GE Vernova by 1,000.0% in the 3rd quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock valued at $36,000 after buying an additional 130 shares in the last quarter.

GE Vernova Price Performance

GEV opened at $328.18 on Wednesday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $357.09. The company’s 50 day moving average price is $315.32 and its two-hundred day moving average price is $235.45.

GE Vernova announced that its board has approved a share buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits 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 board believes its stock is undervalued.

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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Friday, December 20th.

Analyst Upgrades and Downgrades

GEV has been the subject of several analyst reports. Guggenheim dropped their target price on shares of GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. BMO Capital Markets boosted their target price on shares of GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. HSBC restated a “hold” rating and issued a $255.00 target price (up from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Bank of America boosted their target price on shares of GE Vernova from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of GE Vernova in a research report on Monday, October 21st. They issued a “buy” rating and a $354.00 target price for the company. Seven equities 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.