Triangle Securities Wealth Management Takes Position in GE Vernova Inc. (NYSE:GEV)

Triangle Securities Wealth Management purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 649 shares of the company’s stock, valued at approximately $213,000.

Other hedge funds also recently made changes to their positions in the company. Armstrong Advisory Group Inc. raised its holdings in GE Vernova by 3.5% during the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after purchasing an additional 27 shares in the last quarter. AdvisorNet Financial Inc raised its holdings in GE Vernova by 1.6% during the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after purchasing an additional 30 shares in the last quarter. Pittenger & Anderson Inc. raised its holdings in GE Vernova by 28.0% during the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock worth $41,000 after purchasing an additional 35 shares in the last quarter. Regent Peak Wealth Advisors LLC raised its holdings in 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 purchasing an additional 35 shares in the last quarter. Finally, SteelPeak Wealth LLC raised its holdings in 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 purchasing an additional 38 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GEV. Hsbc Global Res lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. Raymond James lowered shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company lifted their price target on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $367.00 to $374.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 14th. Finally, Citigroup lifted their price target on shares of GE Vernova from $292.00 to $361.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $321.35.

GE Vernova Stock Up 2.8 %

Shares of GEV opened at $401.84 on Monday. The company has a 50-day simple moving average of $344.59 and a 200-day simple moving average of $264.36. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $404.13.

GE Vernova Announces Dividend

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

GE Vernova declared that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

GE Vernova 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.