HB Wealth Management LLC Has $1.96 Million Stock Position in GE Vernova Inc. (NYSE:GEV)

HB Wealth Management LLC lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 10.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,949 shares of the company’s stock after buying an additional 546 shares during the period. HB Wealth Management LLC’s holdings in GE Vernova were worth $1,957,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. KRS Capital Management LLC raised its holdings in shares of GE Vernova by 8.9% during the 4th quarter. KRS Capital Management LLC now owns 1,633 shares of the company’s stock worth $537,000 after buying an additional 133 shares in the last quarter. Trust Co. of Vermont raised its holdings in shares of GE Vernova by 11.9% during the 4th quarter. Trust Co. of Vermont now owns 1,785 shares of the company’s stock worth $587,000 after buying an additional 190 shares in the last quarter. Howard Financial Services LTD. acquired a new position in shares of GE Vernova during the 4th quarter worth $270,000. Trust Co of Kansas acquired a new position in shares of GE Vernova during the 4th quarter worth $245,000. Finally, Trium Capital LLP raised its holdings in shares of GE Vernova by 7.4% during the 4th quarter. Trium Capital LLP now owns 1,716 shares of the company’s stock worth $564,000 after buying an additional 118 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GEV shares. Citigroup boosted their price target on GE Vernova from $292.00 to $361.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. Evercore ISI upped their target price on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Wolfe Research started coverage on GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 target price for the company. Raymond James cut GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Finally, Guggenheim lowered their target price on GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $321.35.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $401.84 on Monday. GE Vernova Inc. has a one year low of $115.00 and a one year high of $404.13. The stock’s 50-day moving average is $344.59 and its 200 day moving average is $264.36.

GE Vernova Announces Dividend

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

GE Vernova declared that its Board of Directors has initiated a stock repurchase program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

GE Vernova Company 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.