GE Vernova Inc. (NYSE:GEV) Shares Acquired by BigSur Wealth Management LLC

BigSur Wealth Management LLC increased its position in GE Vernova Inc. (NYSE:GEV) by 16.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,562 shares of the company’s stock after purchasing an additional 500 shares during the period. BigSur Wealth Management LLC’s holdings in GE Vernova were worth $1,173,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GEV. Waverton Investment Management Ltd lifted its holdings in GE Vernova by 10.0% during 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 last quarter. Hanlon Investment Management Inc. bought a new position in GE Vernova during the third quarter worth $1,101,000. Atria Investments Inc boosted its holdings in GE Vernova by 127.0% in the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after purchasing an additional 2,847 shares during the period. Fractal Investments LLC bought a new stake in GE Vernova during the third quarter valued at $1,530,000. Finally, Legal & General Group Plc acquired a new stake in shares of GE Vernova during the second quarter worth $293,699,000.

Analyst Ratings Changes

GEV has been the subject of several research reports. Morgan Stanley boosted their price objective 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. Jefferies Financial Group upped their target price on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Citigroup boosted their price objective on GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a research report on Monday, December 9th. Barclays increased their target price on GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Oppenheimer assumed coverage on shares of GE Vernova in a report on Thursday, September 26th. They set a “market perform” rating for the company. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $321.35.

GE Vernova Price Performance

Shares of NYSE GEV opened at $401.84 on Monday. The business has a 50 day simple moving average of $344.59 and a 200 day simple moving average of $264.36. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $404.13.

GE Vernova Announces Dividend

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

GE Vernova announced that its board has initiated a stock repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

GE Vernova 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.