B. Riley Wealth Advisors Inc. Has $1.21 Million Stake in GE Vernova Inc. (NYSE:GEV)

B. Riley Wealth Advisors Inc. trimmed its position in shares of GE Vernova Inc. (NYSE:GEV) by 20.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,745 shares of the company’s stock after selling 1,216 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in GE Vernova were worth $1,209,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in GEV. Waverton Investment Management Ltd grew its holdings in shares of GE Vernova by 10.0% during the third quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock valued at $185,459,000 after buying an additional 66,455 shares in the last quarter. Hanlon Investment Management Inc. acquired a new stake in GE Vernova during the 3rd quarter worth about $1,101,000. Atria Investments Inc grew its stake in GE Vernova by 127.0% during the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after acquiring an additional 2,847 shares in the last quarter. Fractal Investments LLC acquired a new position in shares of GE Vernova in the 3rd quarter valued at about $1,530,000. Finally, Legal & General Group Plc purchased a new stake in shares of GE Vernova in the second quarter worth approximately $293,699,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Jefferies Financial Group boosted their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday. Wolfe Research started coverage on shares of GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $376.00 price objective on shares of GE Vernova in a report on Wednesday, December 11th. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 11th. Finally, HSBC reaffirmed a “hold” rating and set a $255.00 price target (up from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.35.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $337.77 on Tuesday. The business has a 50 day moving average price of $314.04 and a 200 day moving average price of $234.37. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $357.09.

GE Vernova Announces Dividend

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

GE Vernova declared that its Board of Directors has initiated a share buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is 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.