Gateway Investment Advisers LLC Raises Holdings in GE Vernova Inc. (NYSE:GEV)

Gateway Investment Advisers LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 6.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 16,575 shares of the company’s stock after buying an additional 1,061 shares during the period. Gateway Investment Advisers LLC’s holdings in GE Vernova were worth $5,452,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Castleview Partners LLC purchased a new position in shares of GE Vernova in the 3rd quarter worth approximately $28,000. Pathway Financial Advisers LLC acquired a new stake in shares of GE Vernova in the second quarter worth $29,000. Glass Jacobson Investment Advisors llc acquired a new stake in GE Vernova during the 2nd quarter worth about $30,000. Covestor Ltd raised its position in GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new position in shares of GE Vernova during the 3rd quarter valued at approximately $31,000.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of analyst reports. 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. Wells Fargo & Company boosted their price target on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Raymond James cut GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Wolfe Research began coverage on shares of GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target for the company. Finally, Truist Financial raised their price objective on GE Vernova from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Thursday. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average price target of $321.35.

GE Vernova Stock Up 2.8 %

Shares of NYSE GEV opened at $401.84 on Friday. The business has a 50-day moving average of $343.37 and a two-hundred day moving average of $262.08. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $404.13.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be given 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 announced that its Board of Directors has authorized a share buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

GE Vernova Profile

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.