GAMMA Investing LLC Boosts Stake in GE Vernova Inc. (NYSE:GEV)

GAMMA Investing LLC boosted its position in GE Vernova Inc. (NYSE:GEV) by 11.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,473 shares of the company’s stock after buying an additional 681 shares during the quarter. GAMMA Investing LLC’s holdings in GE Vernova were worth $2,129,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GEV. Versant Capital Management Inc raised its stake in GE Vernova by 18.0% during the 4th quarter. Versant Capital Management Inc now owns 4,515 shares of the company’s stock valued at $1,485,000 after acquiring an additional 688 shares in the last quarter. Cacti Asset Management LLC grew its position in GE Vernova by 3.2% in the fourth quarter. Cacti Asset Management LLC now owns 6,020 shares of the company’s stock worth $1,988,000 after buying an additional 187 shares during the last quarter. Old Port Advisors grew its holdings in shares of GE Vernova by 8.2% in the 4th quarter. Old Port Advisors now owns 1,420 shares of the company’s stock worth $467,000 after acquiring an additional 108 shares during the last quarter. Principal Financial Group Inc. raised its holdings in GE Vernova by 2.2% during the 3rd quarter. Principal Financial Group Inc. now owns 577,284 shares of the company’s stock worth $147,196,000 after buying an additional 12,323 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of GE Vernova during the third quarter valued at approximately $25,116,000.

GE Vernova Stock Up 3.0 %

Shares of GEV stock opened at $338.94 on Friday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $357.09. The firm’s 50-day simple moving average is $330.37 and its two-hundred day simple moving average is $248.55.

GE Vernova declared that its Board of Directors has approved a stock buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.30%.

Analyst Ratings Changes

A number of research firms have recently issued reports on GEV. Jefferies Financial Group increased their price target on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. HSBC reissued a “hold” rating and set a $255.00 price objective (up previously from $240.00) on shares of GE Vernova in a report on Friday, October 4th. BMO Capital Markets boosted their target price 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. Wells Fargo & Company upped their price target on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Guggenheim reduced their target price on shares of GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.