Merit Financial Group LLC Buys 1,270 Shares of GE Vernova Inc. (NYSE:GEV)

Merit Financial Group LLC grew its stake in GE Vernova Inc. (NYSE:GEV) by 23.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,605 shares of the company’s stock after acquiring an additional 1,270 shares during the quarter. Merit Financial Group LLC’s holdings in GE Vernova were worth $2,173,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mountaineer Partners Management LLC bought a new position in GE Vernova in the third quarter worth about $2,507,296,000. Marshall Wace LLP purchased a new position in shares of GE Vernova in the 2nd quarter worth approximately $399,770,000. Legal & General Group Plc bought a new position in shares of GE Vernova during the 2nd quarter worth approximately $293,699,000. Electron Capital Partners LLC lifted its position in GE Vernova by 1,641.3% during the second quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock valued at $290,589,000 after acquiring an additional 1,596,996 shares during the last quarter. Finally, Lone Pine Capital LLC acquired a new stake in GE Vernova in the second quarter valued at approximately $253,322,000.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GEV. Raymond James downgraded GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company upped their price target on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Oppenheimer began coverage on shares of GE Vernova in a research note on Thursday, September 26th. They set a “market perform” rating for the company. Citigroup boosted their price target on GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. lifted their target price on GE Vernova from $367.00 to $374.00 and gave the stock an “overweight” rating in a report on Tuesday, January 14th. Seven 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 target price of $321.35.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $401.84 on Monday. The business has a 50 day simple moving average of $344.59 and a two-hundred day simple moving average of $264.36. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $404.13.

GE Vernova Announces Dividend

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

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

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.