Versant Capital Management Inc Has $1.49 Million Position in GE Vernova Inc. (NYSE:GEV)

Versant Capital Management Inc lifted its holdings in shares of GE Vernova Inc. (NYSE:GEVFree Report) by 18.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,515 shares of the company’s stock after buying an additional 688 shares during the period. Versant Capital Management Inc’s holdings in GE Vernova were worth $1,485,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Deseret Mutual Benefit Administrators acquired a new position in GE Vernova during the second quarter worth $25,000. Trifecta Capital Advisors LLC acquired a new position in shares of GE Vernova during the 2nd quarter worth about $25,000. Meeder Asset Management Inc. bought a new stake in shares of GE Vernova in the 2nd quarter valued at about $25,000. Spectrum Wealth Counsel LLC bought a new stake in shares of GE Vernova in the 2nd quarter valued at about $27,000. Finally, Castleview Partners LLC acquired a new stake in GE Vernova in the 3rd quarter valued at about $28,000.

GE Vernova Price Performance

Shares of GEV stock opened at $338.94 on Friday. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $357.09. The stock has a 50-day moving average of $330.37 and a 200-day moving average of $248.55.

GE Vernova declared that its Board of Directors has authorized a share repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders 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 yield of 0.30%. The ex-dividend date is Friday, December 20th.

Wall Street Analyst Weigh In

Several research firms have issued reports on GEV. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 11th. Raymond James downgraded GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Truist Financial upped their price objective on shares of GE Vernova from $325.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Barclays raised their target price 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. Finally, HSBC reiterated a “hold” rating and issued a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. 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, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $314.35.

View Our Latest Stock Report on GEV

GE Vernova Profile

(Free Report)

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.

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Institutional Ownership by Quarter for GE Vernova (NYSE:GEV)

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