HCR Wealth Advisors Makes New $262,000 Investment in GE Vernova Inc. (NYSE:GEV)

HCR Wealth Advisors purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 796 shares of the company’s stock, valued at approximately $262,000.

A number of other hedge funds have also modified their holdings of the company. Armstrong Advisory Group Inc. raised its holdings in shares of GE Vernova by 3.5% during the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after purchasing an additional 27 shares during the last quarter. Wolff Wiese Magana LLC grew its position in shares of GE Vernova by 90.2% during the 4th quarter. Wolff Wiese Magana LLC now owns 194 shares of the company’s stock valued at $64,000 after acquiring an additional 92 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of GE Vernova by 62.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 347 shares of the company’s stock valued at $114,000 after purchasing an additional 134 shares in the last quarter. Park Avenue Securities LLC increased its stake in shares of GE Vernova by 9.2% in the 4th quarter. Park Avenue Securities LLC now owns 8,744 shares of the company’s stock valued at $2,876,000 after purchasing an additional 735 shares in the last quarter. Finally, Kathmere Capital Management LLC acquired a new position in GE Vernova in the 4th quarter worth about $451,000.

GE Vernova Trading Up 1.0 %

GEV opened at $390.86 on Friday. The business’s 50 day moving average price is $342.29 and its 200 day moving average price is $261.18. GE Vernova Inc. has a one year low of $115.00 and a one year high of $397.76.

GE Vernova Announces Dividend

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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date is Friday, December 20th.

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

Analysts Set New Price Targets

GEV has been the subject of a number of recent analyst reports. Jefferies Financial Group boosted their price objective on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. 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 price target for the company. Morgan Stanley increased their price objective on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Barclays boosted their target price on shares of GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Truist Financial raised their price target on shares of GE Vernova from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday. Seven equities 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 MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $321.35.

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.