Ritholtz Wealth Management Acquires 155 Shares of GE Vernova Inc. (NYSE:GEV)

Ritholtz Wealth Management grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 4.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,041 shares of the company’s stock after buying an additional 155 shares during the quarter. Ritholtz Wealth Management’s holdings in GE Vernova were worth $1,329,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of GEV. Mountaineer Partners Management LLC bought a new position in shares of GE Vernova during the 3rd quarter worth approximately $2,507,296,000. Marshall Wace LLP bought a new position in shares of GE Vernova during 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 shares of GE Vernova by 1,641.3% during the 2nd quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock worth $290,589,000 after buying an additional 1,596,996 shares in the last quarter. Finally, Lone Pine Capital LLC bought a new position in shares of GE Vernova during the 2nd quarter worth approximately $253,322,000.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Citigroup lifted their target price 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $376.00 price target on shares of GE Vernova in a report on Wednesday, December 11th. The Goldman Sachs Group lifted their price target on shares of GE Vernova from $400.00 to $446.00 and gave the stock a “buy” rating in a report on Thursday. HSBC reaffirmed a “hold” rating and issued a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Finally, Evercore ISI lifted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Seven 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 company. Based on data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $321.35.

GE Vernova Price Performance

GEV opened at $401.84 on Friday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $404.13. The business’s fifty day simple moving average is $344.59 and its 200 day simple moving average is $263.70.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Investors 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 dividend on an annualized basis and a yield of 0.25%.

GE Vernova declared that its board has approved a share buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase plans are usually an indication 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.