876 Shares in GE Vernova Inc. (NYSE:GEV) Purchased by Sky Investment Group LLC

Sky Investment Group LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 4th quarter, Holdings Channel.com reports. The fund acquired 876 shares of the company’s stock, valued at approximately $288,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GEV. Waverton Investment Management Ltd grew its stake in shares of GE Vernova by 10.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock worth $185,459,000 after buying an additional 66,455 shares during the last quarter. Hanlon Investment Management Inc. bought a new stake in GE Vernova in the third quarter worth $1,101,000. Atria Investments Inc grew its stake 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 worth $1,297,000 after acquiring an additional 2,847 shares during the last quarter. Fractal Investments LLC bought a new position in shares of GE Vernova during the third quarter valued at $1,530,000. Finally, Legal & General Group Plc purchased a new position in shares of GE Vernova in the 2nd quarter worth about $293,699,000.

GE Vernova Trading Up 2.8 %

Shares of NYSE:GEV opened at $401.84 on Tuesday. The stock has a 50 day moving average of $344.59 and a 200 day moving average of $265.01. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $404.13.

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

GE Vernova Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently commented on GEV shares. Oppenheimer assumed coverage on shares of GE Vernova in a research report on Thursday, September 26th. They set a “market perform” rating on the stock. Morgan Stanley increased their price target on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Citigroup boosted their price objective on shares of GE Vernova from $292.00 to $361.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. BMO Capital Markets increased their target price on GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Wells Fargo & Company boosted their price target on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $321.35.

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.