Guardian Investment Management Acquires New Position in GE Vernova Inc. (NYSE:GEV)

Guardian Investment Management bought a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, Holdings Channel reports. The institutional investor bought 2,790 shares of the company’s stock, valued at approximately $918,000.

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

Analyst Upgrades and Downgrades

GEV has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Morgan Stanley upped their price target on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. TD Cowen initiated coverage on GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective for the company. Bank of America upped their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, Jefferies Financial Group raised their price target 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. Seven 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, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $321.35.

GE Vernova Stock Up 2.8 %

GE Vernova stock opened at $401.84 on Monday. The firm’s fifty day moving average price is $344.59 and its two-hundred day moving average price is $264.36. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $404.13.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.25 per share. 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 declared that its board has authorized a share buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.