Parisi Gray Wealth Management Has $514,000 Position in GE Vernova Inc. (NYSE:GEV)

Parisi Gray Wealth Management boosted its position in GE Vernova Inc. (NYSE:GEV) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,562 shares of the company’s stock after buying an additional 70 shares during the quarter. Parisi Gray Wealth Management’s holdings in GE Vernova were worth $514,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Pittenger & Anderson Inc. increased its stake in GE Vernova by 28.0% in the 3rd quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock valued at $41,000 after buying an additional 35 shares during the last quarter. Regent Peak Wealth Advisors LLC raised its holdings in GE Vernova by 3.8% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 966 shares of the company’s stock worth $318,000 after acquiring an additional 35 shares in the last quarter. SteelPeak Wealth LLC increased 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 buying an additional 38 shares during the last quarter. Global Retirement Partners LLC raised its position in GE Vernova by 0.9% during the third quarter. Global Retirement Partners LLC now owns 4,507 shares of the company’s stock worth $1,149,000 after acquiring an additional 40 shares in the last quarter. Finally, Whittier Trust Co. lifted its stake in GE Vernova by 1.9% in the third quarter. Whittier Trust Co. now owns 2,106 shares of the company’s stock valued at $537,000 after acquiring an additional 40 shares during the last quarter.

GE Vernova Trading Down 0.3 %

Shares of GE Vernova stock traded down $0.96 during trading hours on Monday, hitting $366.14. 3,263,716 shares of the company’s stock traded hands, compared to its average volume of 2,796,763. The company has a fifty day simple moving average of $338.55 and a 200-day simple moving average of $257.48. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $376.30.

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

GE Vernova Dividend Announcement

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

Analysts Set New Price Targets

GEV has been the subject of several research analyst reports. Barclays lifted their target price on GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. The Goldman Sachs Group upped their price objective on shares of GE Vernova from $324.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, December 12th. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 11th. 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 on the stock. Finally, Oppenheimer initiated coverage on shares of GE Vernova in a research report on Thursday, September 26th. They set a “market perform” rating for the company. Seven 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $314.35.

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.