GE Vernova Inc. (NYSE:GEV) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama increased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 2.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 61,894 shares of the company’s stock after acquiring an additional 1,433 shares during the period. Retirement Systems of Alabama’s holdings in GE Vernova were worth $15,782,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Deseret Mutual Benefit Administrators acquired a new position in shares of GE Vernova during the second quarter worth $25,000. Trifecta Capital Advisors LLC purchased a new stake in GE Vernova during the 2nd quarter worth $25,000. Meeder Asset Management Inc. acquired a new position in GE Vernova in the 2nd quarter worth $25,000. Gradient Investments LLC purchased a new position in GE Vernova in the 2nd quarter valued at about $27,000. Finally, Spectrum Wealth Counsel LLC acquired a new stake in shares of GE Vernova during the second quarter valued at about $27,000.

Analysts Set New Price Targets

Several research analysts recently commented on GEV shares. Barclays boosted their price target on GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Truist Financial upped their target price on GE Vernova from $325.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Raymond James lowered shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Evercore ISI upped their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a report on Monday, October 21st. They set a “buy” rating and a $354.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $314.35.

GE Vernova Stock Up 0.6 %

GEV opened at $332.01 on Monday. The business’s 50 day moving average is $312.53 and its 200-day moving average is $233.23. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $357.09.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.30%. The ex-dividend date is Friday, December 20th.

GE Vernova declared that its board has approved a stock 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 reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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.