GE Vernova Inc. (NYSE:GEV) Shares Bought by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. raised its holdings in GE Vernova Inc. (NYSE:GEV) by 1.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,649 shares of the company’s stock after acquiring an additional 41 shares during the quarter. Salem Investment Counselors Inc.’s holdings in GE Vernova were worth $872,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Pittenger & Anderson Inc. boosted its holdings in GE Vernova by 28.0% in the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock valued at $41,000 after purchasing an additional 35 shares during the period. Regent Peak Wealth Advisors LLC grew its position in shares of GE Vernova by 3.8% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 966 shares of the company’s stock worth $318,000 after buying an additional 35 shares in the last quarter. SteelPeak Wealth LLC increased its stake in shares of GE Vernova by 2.5% during the third quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company’s stock worth $400,000 after buying an additional 38 shares during the period. Global Retirement Partners LLC raised its holdings in GE Vernova by 0.9% in the third quarter. Global Retirement Partners LLC now owns 4,507 shares of the company’s stock valued at $1,149,000 after acquiring an additional 40 shares in the last quarter. Finally, Whittier Trust Co. lifted its stake in GE Vernova by 1.9% in the third quarter. Whittier Trust Co. now owns 2,106 shares of the company’s stock worth $537,000 after acquiring an additional 40 shares during the last quarter.

Analysts Set New Price Targets

GEV has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova in a research report on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective on the stock. Citigroup raised their price target on GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Bank of America lifted their price target on GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Morgan Stanley increased their price objective on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Jefferies Financial Group boosted their target price on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $314.35.

GE Vernova Stock Performance

GE Vernova stock opened at $366.14 on Tuesday. The business has a 50 day simple moving average of $339.96 and a 200-day simple moving average of $258.81. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $376.30.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%.

GE Vernova declared that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is 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.