Terra Nova Asset Management LLC Has $2.04 Million Holdings in GE Vernova Inc. (NYSE:GEV)

Terra Nova Asset Management LLC grew its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 232.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,187 shares of the company’s stock after purchasing an additional 4,326 shares during the period. GE Vernova comprises 1.5% of Terra Nova Asset Management LLC’s holdings, making the stock its 29th largest holding. Terra Nova Asset Management LLC’s holdings in GE Vernova were worth $2,035,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GEV. Mountaineer Partners Management LLC acquired a new position in shares of GE Vernova during the 3rd quarter worth approximately $2,507,296,000. Marshall Wace LLP acquired a new stake in shares of GE Vernova during the 2nd quarter worth approximately $399,770,000. Legal & General Group Plc acquired a new stake in shares of GE Vernova during the 2nd quarter worth approximately $293,699,000. Electron Capital Partners LLC boosted its position in shares of GE Vernova by 1,641.3% during the 2nd quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock worth $290,589,000 after acquiring an additional 1,596,996 shares in the last quarter. Finally, Lone Pine Capital LLC acquired a new stake in shares of GE Vernova during the 2nd quarter worth approximately $253,322,000.

Analyst Ratings Changes

GEV has been the topic of several analyst reports. BMO Capital Markets increased their price target on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Oppenheimer initiated coverage on shares of GE Vernova in a research report on Thursday, September 26th. They set a “market perform” rating on the stock. Barclays increased their price target on shares of GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Royal Bank of Canada restated an “outperform” rating and issued a $376.00 target price on shares of GE Vernova in a research report on Wednesday, December 11th. Finally, Morgan Stanley raised their target price 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 research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $321.35.

GE Vernova Price Performance

Shares of NYSE GEV opened at $401.84 on Monday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $404.13. The firm has a fifty day simple moving average of $344.59 and a 200 day simple moving average of $264.36.

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

GE Vernova Announces Dividend

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

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.