GE Vernova Inc. (NYSE:GEV) Shares Purchased by Wolff Wiese Magana LLC

Wolff Wiese Magana LLC grew its holdings in GE Vernova Inc. (NYSE:GEV) by 90.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 194 shares of the company’s stock after buying an additional 92 shares during the period. Wolff Wiese Magana LLC’s holdings in GE Vernova were worth $64,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Castleview Partners LLC purchased a new stake in shares of GE Vernova during the third quarter worth approximately $28,000. Pathway Financial Advisers LLC purchased a new position in GE Vernova in the 2nd quarter valued at $29,000. Glass Jacobson Investment Advisors llc acquired a new position in GE Vernova in the 2nd quarter valued at $30,000. Covestor Ltd raised its position in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new stake in shares of GE Vernova in the 3rd quarter worth $31,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. BMO Capital Markets raised their price objective on shares of GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Citigroup boosted their price objective on shares of GE Vernova from $292.00 to $361.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Barclays raised their price objective on shares of GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group raised their price objective on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $318.60.

GE Vernova Trading Up 1.0 %

Shares of NYSE:GEV opened at $385.90 on Wednesday. The business’s 50-day simple moving average is $341.28 and its 200 day simple moving average is $260.29. GE Vernova Inc. has a one year low of $115.00 and a one year high of $391.98.

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

GE Vernova Dividend Announcement

The company also recently declared 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 0.26%. The ex-dividend date of this dividend is Friday, December 20th.

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.