Purus Wealth Management LLC Buys 70 Shares of GE Vernova Inc. (NYSE:GEV)

Purus Wealth Management LLC increased its position in GE Vernova Inc. (NYSE:GEV) by 8.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 886 shares of the company’s stock after purchasing an additional 70 shares during the quarter. Purus Wealth Management LLC’s holdings in GE Vernova were worth $291,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Waverton Investment Management Ltd increased its holdings in shares of GE Vernova by 10.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock worth $185,459,000 after purchasing an additional 66,455 shares in the last quarter. Hanlon Investment Management Inc. purchased a new position in shares of GE Vernova in the third quarter worth $1,101,000. Atria Investments Inc boosted its holdings in shares of GE Vernova by 127.0% during the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after purchasing an additional 2,847 shares during the last quarter. Fractal Investments LLC bought a new stake in GE Vernova in the 3rd quarter worth approximately $1,530,000. Finally, Legal & General Group Plc bought a new position in shares of GE Vernova during the 2nd quarter valued at approximately $293,699,000.

GE Vernova Price Performance

GEV opened at $401.84 on Monday. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $404.13. The business’s fifty day simple moving average is $344.59 and its 200-day simple moving average is $264.36.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.25%. The ex-dividend date is Friday, December 20th.

GE Vernova announced that its board has authorized a share repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Morgan Stanley upped their price target on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. increased their price target on shares of GE Vernova from $367.00 to $374.00 and gave the company an “overweight” rating in a report on Tuesday, January 14th. Barclays boosted their price objective on GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Evercore ISI lifted 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. Finally, William Blair restated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $321.35.

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.