Miracle Mile Advisors LLC Has $2.58 Million Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Miracle Mile Advisors LLC increased its position in shares of GE Vernova Inc. (NYSE:GEV) by 183.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 7,848 shares of the company’s stock after purchasing an additional 5,080 shares during the period. Miracle Mile Advisors LLC’s holdings in GE Vernova were worth $2,581,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GEV. Davis Investment Partners LLC increased its holdings in shares of GE Vernova by 46.1% during the fourth quarter. Davis Investment Partners LLC now owns 1,671 shares of the company’s stock valued at $550,000 after acquiring an additional 527 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in GE Vernova during the 4th quarter valued at $211,000. Wedmont Private Capital increased its stake in GE Vernova by 7.5% during the 4th quarter. Wedmont Private Capital now owns 4,137 shares of the company’s stock valued at $1,361,000 after purchasing an additional 288 shares in the last quarter. Salem Investment Counselors Inc. raised its holdings in GE Vernova by 1.6% during the fourth quarter. Salem Investment Counselors Inc. now owns 2,649 shares of the company’s stock worth $872,000 after buying an additional 41 shares during the last quarter. Finally, Capital Investment Advisors LLC lifted its stake in shares of GE Vernova by 34.5% in the fourth quarter. Capital Investment Advisors LLC now owns 2,999 shares of the company’s stock valued at $987,000 after buying an additional 769 shares in the last quarter.

GE Vernova Stock Performance

Shares of GEV stock opened at $366.14 on Tuesday. The firm’s 50 day moving average is $339.96 and its 200 day moving average is $258.81. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $376.30.

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

GE Vernova Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend is Friday, December 20th.

Analyst Ratings Changes

GEV has been the topic of a number of analyst reports. Jefferies Financial Group upped their target price on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Barclays increased their price objective on GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Wells Fargo & Company upped their price target on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Raymond James cut GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Finally, Guggenheim cut their price objective on shares of GE Vernova from $400.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Seven equities research 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $314.35.

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.