Nisa Investment Advisors LLC Purchases 82,025 Shares of GE Vernova Inc. (NYSE:GEV)

Nisa Investment Advisors LLC boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 200.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 123,027 shares of the company’s stock after acquiring an additional 82,025 shares during the quarter. Nisa Investment Advisors LLC’s holdings in GE Vernova were worth $40,478,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Castleview Partners LLC acquired a new stake in shares of GE Vernova in the 3rd quarter valued at $28,000. Pathway Financial Advisers LLC acquired a new stake in shares of GE Vernova in the second quarter worth about $29,000. Covestor Ltd boosted its stake in shares of GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of GE Vernova during the 3rd quarter valued at about $31,000. Finally, Prestige Wealth Management Group LLC raised its stake in shares of GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 77 shares in the last quarter.

GE Vernova Trading Up 3.8 %

Shares of NYSE:GEV opened at $416.68 on Wednesday. The business’s fifty day moving average price is $345.63 and its two-hundred day moving average price is $266.62. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $417.21.

GE Vernova announced that its Board of Directors has authorized a stock buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to purchase 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 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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend is Friday, December 20th.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GEV. TD Cowen started coverage on GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target on the stock. Evercore ISI raised their target price on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Jefferies Financial Group boosted their target price 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 reaffirmed a “hold” rating and issued a $255.00 price target (up from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Finally, Bank of America boosted their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Seven 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 data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $326.85.

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.