Perfromance Wealth Partners LLC Has $17.72 Million Stock Position in GE Vernova Inc. (NYSE:GEV)

Perfromance Wealth Partners LLC grew its stake in GE Vernova Inc. (NYSE:GEV) by 27.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 53,881 shares of the company’s stock after purchasing an additional 11,529 shares during the quarter. GE Vernova comprises approximately 0.6% of Perfromance Wealth Partners LLC’s holdings, making the stock its 18th largest holding. Perfromance Wealth Partners LLC’s holdings in GE Vernova were worth $17,723,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. FMR LLC raised its stake in GE Vernova by 2.5% during the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after buying an additional 584,208 shares during the period. State Street Corp increased its holdings in GE Vernova by 1.1% during the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after purchasing an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC bought a new position in GE Vernova during the 3rd quarter worth about $2,507,296,000. Geode Capital Management LLC increased its holdings in GE Vernova by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after purchasing an additional 80,479 shares in the last quarter. Finally, WCM Investment Management LLC increased its holdings in GE Vernova by 83.1% during the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after purchasing an additional 1,161,901 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Guggenheim lowered their target price on GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $376.00 target price on shares of GE Vernova in a report on Wednesday, December 11th. Evercore ISI increased their target price on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. increased their target price on GE Vernova from $367.00 to $374.00 and gave the stock an “overweight” rating in a report on Tuesday, January 14th. Finally, Raymond James cut GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $326.85.

GE Vernova Trading Up 3.8 %

NYSE GEV opened at $416.68 on Wednesday. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $417.21. The company has a 50 day moving average of $345.63 and a 200-day moving average of $266.62.

GE Vernova announced that its board has authorized a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to purchase 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be given a $0.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.24%.

GE Vernova Company 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.