Oliver Luxxe Assets LLC Has $8.81 Million Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Oliver Luxxe Assets LLC lessened its position in shares of GE Vernova Inc. (NYSE:GEV) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,778 shares of the company’s stock after selling 281 shares during the period. GE Vernova comprises 1.5% of Oliver Luxxe Assets LLC’s portfolio, making the stock its 9th largest position. Oliver Luxxe Assets LLC’s holdings in GE Vernova were worth $8,808,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Castleview Partners LLC acquired a new position in GE Vernova in the third quarter worth $28,000. Covestor Ltd boosted its holdings 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 during the period. Darwin Wealth Management LLC bought a new stake in shares of GE Vernova during the 3rd quarter valued at about $31,000. Prestige Wealth Management Group LLC raised its stake in GE Vernova by 175.0% during the third 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 period. Finally, Planning Capital Management Corp lifted its holdings in GE Vernova by 1,000.0% in the third quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock worth $36,000 after acquiring an additional 130 shares during the last quarter.

GE Vernova Stock Performance

Shares of GE Vernova stock traded up $15.20 during midday trading on Monday, hitting $369.23. The company’s stock had a trading volume of 2,799,255 shares, compared to its average volume of 2,518,089. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $376.30. The stock has a 50-day simple moving average of $331.58 and a 200-day simple moving average of $250.83.

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

GE Vernova Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GEV shares. HSBC reiterated a “hold” rating and set a $255.00 price target (up from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Jefferies Financial Group boosted their price target on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective on the stock. 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 note on Monday, October 14th. Finally, Barclays raised their price target on shares of GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.