Graypoint LLC Purchases 70 Shares of GE Vernova Inc. (NYSE:GEV)

Graypoint LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 3.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,220 shares of the company’s stock after buying an additional 70 shares during the period. Graypoint LLC’s holdings in GE Vernova were worth $730,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of GE Vernova by 2.5% during the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after acquiring an additional 584,208 shares during the period. State Street Corp lifted its holdings in shares of GE Vernova by 1.1% during the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after acquiring an additional 118,184 shares during the period. Mountaineer Partners Management LLC bought a new stake in shares of GE Vernova during the 3rd quarter worth approximately $2,507,296,000. Geode Capital Management LLC lifted its holdings in shares of GE Vernova by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after acquiring an additional 80,479 shares during the period. Finally, Newport Trust Company LLC bought a new stake in shares of GE Vernova during the 2nd quarter worth approximately $650,140,000.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GEV shares. The Goldman Sachs Group upped their price objective on shares of GE Vernova from $324.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. BMO Capital Markets upped their price objective on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Barclays upped their price objective on shares of GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Wolfe Research started coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective for the company. Finally, Truist Financial upped their price objective on shares of GE Vernova from $325.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $314.35.

GE Vernova Trading Up 0.3 %

GEV opened at $367.53 on Friday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $376.30. The company has a fifty day moving average of $338.55 and a 200-day moving average of $256.41.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.27%. The ex-dividend date is Friday, December 20th.

GE Vernova declared that its Board of Directors has initiated a stock 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 purchase up to 6.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are 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.