Capital Advisors Wealth Management LLC Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Capital Advisors Wealth Management LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 766 shares of the company’s stock, valued at approximately $252,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GEV. Acadian Asset Management LLC acquired a new stake in GE Vernova during the 2nd quarter worth approximately $375,000. American Century Companies Inc. purchased a new stake in shares of GE Vernova during the second quarter worth $4,940,000. Envestnet Asset Management Inc. acquired a new stake in shares of GE Vernova in the second quarter valued at $45,674,000. Massachusetts Financial Services Co. MA purchased a new position in GE Vernova in the second quarter valued at $119,390,000. Finally, Dimensional Fund Advisors LP acquired a new position in GE Vernova during the 2nd quarter worth $176,775,000.

GE Vernova Trading Up 1.0 %

GEV stock opened at $390.86 on Friday. The company has a fifty day moving average price of $342.29 and a 200 day moving average price of $261.18. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $397.76.

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

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 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 yield of 0.26%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wolfe Research began coverage on GE Vernova in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target on the stock. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 11th. JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $367.00 to $374.00 and gave the company an “overweight” rating in a research report on Tuesday. The Goldman Sachs Group lifted their price objective on shares of GE Vernova from $400.00 to $446.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, TD Cowen initiated coverage on GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price on the stock. 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 MarketBeat.com, the company currently has an average 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.