RDA Financial Network Acquires Shares of 681 GE Vernova Inc. (NYSE:GEV)

RDA Financial Network bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 681 shares of the company’s stock, valued at approximately $224,000.

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

GE Vernova Trading Up 2.8 %

NYSE:GEV opened at $401.84 on Friday. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $404.13. The company’s fifty day moving average price is $343.37 and its 200-day moving average price is $262.08.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be paid 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 0.25%.

GE Vernova announced that its Board of Directors has approved a share repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 11th. The Goldman Sachs Group lifted their target price on GE Vernova from $400.00 to $446.00 and gave the company a “buy” rating in a research note on Thursday. Evercore ISI increased their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $367.00 to $374.00 and gave the stock an “overweight” rating in a research report on Tuesday. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $321.35.

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.