Purus Wealth Management LLC Buys 70 Shares of GE Vernova Inc. (NYSE:GEV)

Purus Wealth Management LLC raised its stake in GE Vernova Inc. (NYSE:GEV) by 8.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 886 shares of the company’s stock after purchasing an additional 70 shares during the period. Purus Wealth Management LLC’s holdings in GE Vernova were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

GE Vernova Stock Up 2.8 %

GE Vernova stock opened at $401.84 on Monday. The company has a fifty day simple moving average of $344.59 and a 200-day simple moving average of $264.36. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $404.13.

GE Vernova announced that its board has initiated a share repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

GE Vernova Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.25%.

Analyst Ratings Changes

GEV has been the subject of several research reports. Citigroup lifted their price objective on shares of GE Vernova from $292.00 to $361.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft assumed coverage on GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 price target for the company. Morgan Stanley lifted their target price on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Barclays increased their price target on shares of GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, BMO Capital Markets lifted their price objective on shares of GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Seven 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $321.35.

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.