714 Shares in GE Vernova Inc. (NYSE:GEV) Acquired by Murphy Middleton Hinkle & Parker Inc.

Murphy Middleton Hinkle & Parker Inc. acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 714 shares of the company’s stock, valued at approximately $235,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. boosted its holdings in shares of GE Vernova by 3.5% during the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after acquiring an additional 27 shares during the period. AdvisorNet Financial Inc lifted its position in GE Vernova by 1.6% in the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after purchasing an additional 30 shares during the last quarter. Pittenger & Anderson Inc. boosted its stake in GE Vernova by 28.0% during the 3rd quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock valued at $41,000 after purchasing an additional 35 shares during the period. Regent Peak Wealth Advisors LLC grew its position in GE Vernova by 3.8% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 966 shares of the company’s stock worth $318,000 after purchasing an additional 35 shares during the last quarter. Finally, SteelPeak Wealth LLC increased its stake in shares of GE Vernova by 2.5% in the third quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company’s stock valued at $400,000 after purchasing an additional 38 shares during the period.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a research report on Monday, October 21st. They set a “buy” rating and a $354.00 price objective for the company. TD Cowen assumed coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target for the company. Truist Financial lifted their price objective on shares of GE Vernova from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. increased their target price on shares of GE Vernova from $367.00 to $374.00 and gave the company an “overweight” rating in a research report on Tuesday, January 14th. Finally, Bank of America boosted their price target on shares of 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $321.35.

GE Vernova Stock Up 2.8 %

GEV stock opened at $401.84 on Friday. GE Vernova Inc. has a one year low of $115.00 and a one year high of $404.13. The firm has a 50-day moving average of $344.59 and a two-hundred day moving average of $263.70.

GE Vernova Announces Dividend

The company 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 is Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.25%.

GE Vernova announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback plans are generally 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.