RDA Financial Network Makes New Investment in GE Vernova Inc. (NYSE:GEV)

RDA Financial Network acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 681 shares of the company’s stock, valued at approximately $224,000.

A number of other hedge funds have also recently modified their holdings of GEV. Mountaineer Partners Management LLC bought a new stake in GE Vernova during the 3rd quarter worth approximately $2,507,296,000. Newport Trust Company LLC bought a new stake in shares of GE Vernova during the 2nd quarter valued at $650,140,000. Marshall Wace LLP purchased a new position in shares of GE Vernova during the 2nd quarter valued at $399,770,000. Legal & General Group Plc bought a new position in GE Vernova in the 2nd quarter worth $293,699,000. Finally, Electron Capital Partners LLC increased its stake in GE Vernova by 1,641.3% in the 2nd quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock worth $290,589,000 after buying an additional 1,596,996 shares in the last quarter.

Analysts Set New Price Targets

GEV has been the subject of a number of recent analyst reports. Guggenheim dropped their price objective 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. Bank of America upped their price target on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday. Wells Fargo & Company boosted their target price on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. The Goldman Sachs Group raised their target price on shares of GE Vernova from $400.00 to $446.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Wolfe Research began coverage on shares of GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective for the company. Seven research 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $321.35.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $401.84 on Friday. The business has a 50 day simple moving average of $343.37 and a two-hundred day simple moving average of $262.08. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $404.13.

GE Vernova announced that its board has authorized a share repurchase program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

GE Vernova Dividend Announcement

The firm also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Friday, December 20th.

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.