Cacti Asset Management LLC Buys 187 Shares of GE Vernova Inc. (NYSE:GEV)

Cacti Asset Management LLC lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,020 shares of the company’s stock after purchasing an additional 187 shares during the quarter. Cacti Asset Management LLC’s holdings in GE Vernova were worth $1,988,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Pittenger & Anderson Inc. raised its stake in shares of GE Vernova by 28.0% in the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock worth $41,000 after purchasing an additional 35 shares during the last quarter. SteelPeak Wealth LLC grew its holdings in GE Vernova by 2.5% during the third quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company’s stock worth $400,000 after buying an additional 38 shares in the last quarter. Global Retirement Partners LLC raised its position in GE Vernova by 0.9% in the 3rd quarter. Global Retirement Partners LLC now owns 4,507 shares of the company’s stock valued at $1,149,000 after buying an additional 40 shares during the last quarter. Whittier Trust Co. grew its stake in shares of GE Vernova by 1.9% in the 3rd quarter. Whittier Trust Co. now owns 2,106 shares of the company’s stock worth $537,000 after acquiring an additional 40 shares in the last quarter. Finally, Dunhill Financial LLC increased its stake in GE Vernova by 21.6% in the 3rd quarter. Dunhill Financial LLC now owns 225 shares of the company’s stock valued at $57,000 after buying an additional 40 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on GEV shares. Evercore ISI boosted their target price on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Jefferies Financial Group boosted their price objective on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Truist Financial raised their target price on GE Vernova from $325.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group boosted their price target on shares of GE Vernova from $324.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Wolfe Research began coverage on shares of GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $314.35.

GE Vernova Stock Performance

GE Vernova stock traded up $11.64 during midday trading on Thursday, reaching $340.57. 872,569 shares of the stock were exchanged, compared to its average volume of 3,416,386. The company’s fifty day moving average is $329.53 and its 200-day moving average is $247.92. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $357.09.

GE Vernova Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.29%.

GE Vernova announced that its board has authorized a stock repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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.