Regent Peak Wealth Advisors LLC Has $318,000 Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Regent Peak Wealth Advisors LLC increased its stake in GE Vernova Inc. (NYSE:GEV) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 966 shares of the company’s stock after acquiring an additional 35 shares during the quarter. Regent Peak Wealth Advisors LLC’s holdings in GE Vernova were worth $318,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. FMR LLC raised its holdings in GE Vernova by 2.5% during the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after purchasing an additional 584,208 shares during the last quarter. State Street Corp boosted its position in GE Vernova by 1.1% during the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after acquiring an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC acquired a new stake in GE Vernova during the 3rd quarter worth about $2,507,296,000. Geode Capital Management LLC raised its position in shares of GE Vernova by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after acquiring an additional 80,479 shares in the last quarter. Finally, Newport Trust Company LLC acquired a new position in shares of GE Vernova in the 2nd quarter valued at about $650,140,000.

GE Vernova Price Performance

Shares of NYSE GEV traded down $2.26 during midday trading on Tuesday, reaching $369.06. The company’s stock had a trading volume of 1,394,609 shares, compared to its average volume of 2,408,640. The firm has a 50 day moving average price of $333.20 and a 200-day moving average price of $252.19. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $376.30.

GE Vernova declared that its board has authorized a stock buyback plan 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 plans are typically an indication that the company’s board believes its shares are undervalued.

GE Vernova Dividend Announcement

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 of this dividend is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%.

Analyst Ratings Changes

Several equities research analysts recently commented on GEV shares. Guggenheim decreased their target price on GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Raymond James downgraded shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company boosted their target price on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Truist Financial raised their price target on shares of GE Vernova from $325.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group lifted 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. 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $314.35.

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.