Everpar Advisors LLC Buys Shares of 760 GE Vernova Inc. (NYSE:GEV)

Everpar Advisors LLC purchased a new position in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, HoldingsChannel reports. The firm purchased 760 shares of the company’s stock, valued at approximately $250,000.

Other institutional investors also recently made changes to their positions in the company. Waverton Investment Management Ltd raised its holdings in GE Vernova by 10.0% during the third quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock worth $185,459,000 after purchasing an additional 66,455 shares in the last quarter. Hanlon Investment Management Inc. bought a new stake in shares of GE Vernova in the 3rd quarter worth $1,101,000. Atria Investments Inc lifted its holdings in shares of GE Vernova by 127.0% in the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after buying an additional 2,847 shares during the period. Fractal Investments LLC acquired a new position in GE Vernova during the third quarter worth about $1,530,000. Finally, Legal & General Group Plc acquired a new position in GE Vernova during the second quarter worth about $293,699,000.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GEV. Evercore ISI raised their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Oppenheimer initiated coverage on shares of GE Vernova in a report on Thursday, September 26th. They set a “market perform” rating for the company. HSBC restated a “hold” rating and issued a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. The Goldman Sachs Group raised their price objective on GE Vernova from $400.00 to $446.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, BMO Capital Markets boosted their target price on GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $321.35.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $401.84 on Friday. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $404.13. The firm has a fifty day moving average of $343.37 and a two-hundred day moving average of $262.08.

GE Vernova Announces Dividend

The company also recently announced 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 0.25%.

GE Vernova announced that its Board of Directors has initiated a stock buyback plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.