Graypoint LLC Buys 70 Shares of GE Vernova Inc. (NYSE:GEV)

Graypoint LLC lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,220 shares of the company’s stock after acquiring an additional 70 shares during the period. Graypoint LLC’s holdings in GE Vernova were worth $730,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. FMR LLC grew its position in GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after purchasing an additional 584,208 shares in the last quarter. State Street Corp grew its position in GE Vernova by 1.1% in the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $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 in the third quarter valued at $2,507,296,000. Geode Capital Management LLC grew its position in GE Vernova by 1.5% in the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after purchasing an additional 80,479 shares in the last quarter. Finally, Newport Trust Company LLC bought a new position in GE Vernova in the second quarter valued at $650,140,000.

GE Vernova Price Performance

NYSE GEV opened at $367.53 on Friday. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $376.30. The firm has a 50-day moving average price of $338.55 and a two-hundred day moving average price of $256.41.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend is Friday, December 20th.

GE Vernova announced that its board has initiated a share buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. BMO Capital Markets raised their target price on shares of GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. The Goldman Sachs Group increased their price target on shares of GE Vernova from $324.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Guggenheim cut their price target on shares of GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Hsbc Global Res cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Finally, Barclays increased their price target on shares of GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Seven investment 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $314.35.

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.