Howard Financial Services LTD. Buys New Holdings in GE Vernova Inc. (NYSE:GEV)

Howard Financial Services LTD. purchased a new position in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 821 shares of the company’s stock, valued at approximately $270,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Waverton Investment Management Ltd lifted its holdings 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 purchasing an additional 66,455 shares in the last quarter. Hanlon Investment Management Inc. acquired a new position in GE Vernova during the third quarter worth $1,101,000. Atria Investments Inc lifted 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 valued at $1,297,000 after buying an additional 2,847 shares in the last quarter. Fractal Investments LLC acquired a new position in shares of GE Vernova during the third quarter valued at about $1,530,000. Finally, Legal & General Group Plc bought a new stake in shares of GE Vernova during the second quarter worth about $293,699,000.

Analysts Set New Price Targets

Several brokerages recently weighed in on GEV. The Goldman Sachs Group raised their price target on shares of GE Vernova from $400.00 to $446.00 and gave the company a “buy” rating in a research report on Thursday. TD Cowen began coverage on GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price on the stock. HSBC reissued a “hold” rating and issued a $255.00 price target (up from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Oppenheimer assumed coverage on shares of GE Vernova in a report on Thursday, September 26th. They set a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of GE Vernova from $367.00 to $374.00 and gave the company an “overweight” rating in a research report on Tuesday. Seven research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $321.35.

GE Vernova Price Performance

NYSE GEV opened at $401.84 on Friday. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $404.13. The company’s 50 day moving average is $343.37 and its 200-day moving average is $262.08.

GE Vernova declared that its board has authorized 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 buy up to 6.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

GE Vernova Dividend Announcement

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

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.