BigSur Wealth Management LLC Acquires 500 Shares of GE Vernova Inc. (NYSE:GEV)

BigSur Wealth Management LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 16.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,562 shares of the company’s stock after acquiring an additional 500 shares during the quarter. BigSur Wealth Management LLC’s holdings in GE Vernova were worth $1,173,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Waverton Investment Management Ltd increased its position in GE Vernova by 10.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock worth $185,459,000 after buying an additional 66,455 shares during the period. Hanlon Investment Management Inc. acquired a new stake in shares of GE Vernova in the third quarter worth $1,101,000. Atria Investments Inc increased its position in GE Vernova by 127.0% during the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after acquiring an additional 2,847 shares during the period. Fractal Investments LLC acquired a new position in GE Vernova during the 3rd quarter valued at $1,530,000. Finally, Legal & General Group Plc bought a new stake in GE Vernova in the 2nd quarter valued at $293,699,000.

GE Vernova Stock Performance

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

GE Vernova Dividend Announcement

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

GE Vernova announced 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 repurchase up to 6.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Truist Financial upped their price objective on shares of GE Vernova from $400.00 to $420.00 and gave the company a “buy” rating in a research report on Thursday. Raymond James cut GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Guggenheim decreased their price objective on GE Vernova from $400.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 target price for the company. Finally, The Goldman Sachs Group lifted their price target on shares of GE Vernova from $400.00 to $446.00 and gave the stock a “buy” rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, GE Vernova 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.