Brookstone Capital Management Increases Position in GE Vernova Inc. (NYSE:GEV)

Brookstone Capital Management grew its position in GE Vernova Inc. (NYSE:GEV) by 10.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,923 shares of the company’s stock after buying an additional 457 shares during the period. Brookstone Capital Management’s holdings in GE Vernova were worth $1,619,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Pittenger & Anderson Inc. grew its stake in shares of 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 period. Regent Peak Wealth Advisors LLC lifted its holdings in shares of GE Vernova by 3.8% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 966 shares of the company’s stock worth $318,000 after acquiring an additional 35 shares during the last quarter. SteelPeak Wealth LLC lifted its holdings in shares of GE Vernova by 2.5% in the 3rd quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company’s stock worth $400,000 after acquiring an additional 38 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of GE Vernova by 0.9% in the 3rd 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 during the last quarter. Finally, Whittier Trust Co. lifted its holdings in shares of GE Vernova by 1.9% in the 3rd quarter. Whittier Trust Co. now owns 2,106 shares of the company’s stock worth $537,000 after acquiring an additional 40 shares during the last quarter.

Analyst Ratings Changes

GEV has been the topic of a number of research reports. Guggenheim reduced their target price on shares of GE Vernova from $400.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. BMO Capital Markets raised their price objective on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. 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. HSBC reiterated a “hold” rating and issued a $255.00 price objective (up previously from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Finally, Bank of America lifted their target price on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $318.60.

GE Vernova Price Performance

NYSE GEV opened at $386.40 on Thursday. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $392.77. The company’s 50 day moving average is $341.28 and its 200-day moving average is $260.29.

GE Vernova declared that its Board of Directors has approved a stock buyback program 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 programs are often a sign that the company’s management 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 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 yield of 0.26%.

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.