Financial Enhancement Group LLC Acquires New Shares in GE Vernova Inc. (NYSE:GEV)

Financial Enhancement Group LLC bought a new position in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 5,298 shares of the company’s stock, valued at approximately $1,743,000.

A number of other institutional investors and hedge funds have also modified their holdings of GEV. Essex Savings Bank bought a new position in shares of GE Vernova during the fourth quarter valued at $235,000. HCR Wealth Advisors purchased a new position in GE Vernova in the 4th quarter worth about $262,000. Armstrong Advisory Group Inc. raised its position in GE Vernova by 3.5% in the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after buying an additional 27 shares during the last quarter. Wolff Wiese Magana LLC lifted its stake in GE Vernova by 90.2% during the 4th quarter. Wolff Wiese Magana LLC now owns 194 shares of the company’s stock valued at $64,000 after acquiring an additional 92 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of GE Vernova by 62.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 347 shares of the company’s stock valued at $114,000 after acquiring an additional 134 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GEV shares. Truist Financial boosted their price objective on shares of GE Vernova from $325.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. TD Cowen began coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price for the company. Evercore ISI increased their price target on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 price target on the stock. Finally, Morgan Stanley upped their price objective on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $318.60.

GE Vernova Stock Performance

GEV opened at $386.40 on Thursday. The firm’s fifty day moving average is $341.28 and its 200 day moving average is $260.29. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $392.77.

GE Vernova announced that its board has initiated a stock repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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 0.26%.

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.