Oak Thistle LLC Purchases Shares of 1,209 GE Vernova Inc. (NYSE:GEV)

Oak Thistle LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,209 shares of the company’s stock, valued at approximately $398,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. AdvisorNet Financial Inc lifted its stake in GE Vernova by 1.6% in the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after acquiring an additional 30 shares in the last quarter. Pittenger & Anderson Inc. raised its holdings in shares of GE Vernova by 28.0% in the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock valued at $41,000 after purchasing an additional 35 shares during the last quarter. Regent Peak Wealth Advisors LLC lifted its position in shares of GE Vernova by 3.8% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 966 shares of the company’s stock worth $318,000 after purchasing an additional 35 shares in the last quarter. SteelPeak Wealth LLC boosted its holdings in GE Vernova by 2.5% during the third quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company’s stock worth $400,000 after purchasing an additional 38 shares during the last quarter. Finally, Global Retirement Partners LLC grew its position in GE Vernova by 0.9% in the third quarter. Global Retirement Partners LLC now owns 4,507 shares of the company’s stock valued at $1,149,000 after purchasing an additional 40 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GEV. 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. The Goldman Sachs Group upped their price objective on GE Vernova from $400.00 to $446.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays raised their target price on shares of GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Wolfe Research began coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target for the company. Finally, Citigroup upped their target price on shares of GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a report on Monday, December 9th. Seven research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $321.35.

GE Vernova Stock Performance

Shares of GEV opened at $390.86 on Friday. The firm has a 50 day simple moving average of $342.29 and a two-hundred day simple moving average of $261.18. GE Vernova Inc. has a one year low of $115.00 and a one year high of $397.76.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%.

GE Vernova declared that its Board of Directors has approved a stock buyback 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 shares through open market purchases. Shares buyback programs are typically an indication that the company’s management 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.