Wealth Enhancement Advisory Services LLC Buys 1,203 Shares of GE Vernova Inc. (NYSE:GEV)

Wealth Enhancement Advisory Services LLC grew its stake in shares of GE Vernova Inc. (NYSE:GEV) by 1.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 116,346 shares of the company’s stock after acquiring an additional 1,203 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in GE Vernova were worth $38,270,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Meeder Asset Management Inc. purchased a new position in shares of GE Vernova during the second quarter worth about $25,000. Spectrum Wealth Counsel LLC purchased a new position in shares of GE Vernova during the second quarter worth about $27,000. Castleview Partners LLC purchased a new position in shares of GE Vernova during the third quarter worth about $28,000. Pathway Financial Advisers LLC purchased a new position in shares of GE Vernova during the second quarter worth about $29,000. Finally, Glass Jacobson Investment Advisors llc purchased a new position in shares of GE Vernova during the second quarter worth about $30,000.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $367.53 on Friday. The business has a 50 day moving average of $338.55 and a 200 day moving average of $256.41. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $376.30.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be issued 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 dividend yield of 0.27%.

GE Vernova declared that its board has initiated a share repurchase program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

GEV has been the subject of several recent analyst reports. Raymond James lowered GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Guggenheim cut 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. JPMorgan Chase & Co. upped their target price on GE Vernova from $356.00 to $367.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Truist Financial upped their target price on GE Vernova from $325.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, TD Cowen began coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price for the company. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $314.35.

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.