M.E. Allison & CO. Inc. Makes New $204,000 Investment in GE Vernova Inc. (NYSE:GEV)

M.E. Allison & CO. Inc. bought a new stake in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 619 shares of the company’s stock, valued at approximately $204,000.

Several other large investors have also modified their holdings of the stock. American Century Companies Inc. acquired a new stake in GE Vernova during the second quarter valued at approximately $4,940,000. XTX Topco Ltd bought a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $383,000. Intech Investment Management LLC acquired a new stake in shares of GE Vernova during the 2nd quarter valued at approximately $970,000. Brighton Jones LLC bought a new position in GE Vernova during the second quarter worth $361,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in GE Vernova in the second quarter worth $368,000.

GE Vernova Stock Performance

NYSE:GEV opened at $401.84 on Tuesday. The company has a 50-day moving average of $344.59 and a 200-day moving average of $265.01. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $404.13.

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

GE Vernova announced that its board has authorized a stock repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have weighed in on GEV shares. JPMorgan Chase & Co. increased their target price on shares of GE Vernova from $367.00 to $374.00 and gave the stock an “overweight” rating in a report on Tuesday, January 14th. TD Cowen began coverage on shares of GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective on the stock. Jefferies Financial Group lifted their target price on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 11th. Finally, Wolfe Research began coverage on GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 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 stock. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target 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.