GE Vernova Inc. (NYSE:GEV) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its position in shares of GE Vernova Inc. (NYSE:GEV) by 284.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 617,559 shares of the company’s stock after buying an additional 456,879 shares during the quarter. Assenagon Asset Management S.A. owned about 0.22% of GE Vernova worth $203,134,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC grew its position in shares of GE Vernova by 199.7% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 11,084 shares of the company’s stock worth $3,646,000 after acquiring an additional 7,386 shares during the last quarter. Oak Thistle LLC purchased a new stake in GE Vernova in the 4th quarter valued at $398,000. Graves Light Lenhart Wealth Inc. acquired a new stake in GE Vernova during the 4th quarter worth $236,000. Capital CS Group LLC purchased a new position in GE Vernova during the 4th quarter worth $614,000. Finally, Grandview Asset Management LLC acquired a new position in GE Vernova in the fourth quarter valued at $475,000.

GE Vernova Trading Up 4.1 %

GE Vernova stock opened at $381.73 on Wednesday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $388.88. The firm’s 50-day simple moving average is $341.28 and its 200 day simple moving average is $260.29.

GE Vernova declared that its Board of Directors has initiated a stock buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Friday, December 20th.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GEV shares. HSBC reiterated a “hold” rating and set a $255.00 target price (up previously from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Raymond James cut GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Citigroup boosted their target price on GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a report on Monday, December 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $376.00 price target on shares of GE Vernova in a report on Wednesday, December 11th. Finally, Wolfe Research assumed coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective on the stock. Seven 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $318.60.

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.