Perpetual Ltd Grows Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Perpetual Ltd grew its stake in GE Vernova Inc. (NYSE:GEV) by 378.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,102 shares of the company’s stock after acquiring an additional 3,245 shares during the quarter. Perpetual Ltd’s holdings in GE Vernova were worth $1,349,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Castleview Partners LLC acquired a new position in GE Vernova during the third quarter worth $28,000. Covestor Ltd grew its holdings in shares of GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares during the period. Darwin Wealth Management LLC acquired a new stake in GE Vernova during the third quarter worth about $31,000. Prestige Wealth Management Group LLC raised its stake in GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares during the period. Finally, Planning Capital Management Corp boosted its holdings in GE Vernova by 1,000.0% in the 3rd quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock valued at $36,000 after purchasing an additional 130 shares during the last quarter.

GE Vernova Stock Up 3.8 %

NYSE GEV opened at $416.68 on Wednesday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $417.21. The firm’s fifty day moving average price is $345.63 and its 200 day moving average price is $266.62.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Friday, December 20th.

GE Vernova declared that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to purchase 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 stock is undervalued.

Wall Street Analysts Forecast Growth

GEV has been the topic of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $376.00 price target on shares of GE Vernova in a research report on Wednesday, December 11th. Morgan Stanley boosted their target price on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Oppenheimer initiated coverage on GE Vernova in a research report on Thursday, September 26th. They set a “market perform” rating for the company. Wolfe Research assumed coverage on GE Vernova in a research note on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price on the stock. Finally, William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $326.85.

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.