Fulcrum Equity Management Purchases New Shares in GE Vernova Inc. (NYSE:GEV)

Fulcrum Equity Management acquired a new position in GE Vernova Inc. (NYSE:GEV) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 855 shares of the company’s stock, valued at approximately $218,000.

A number of other large investors have also recently made changes to their positions in GEV. Castleview Partners LLC bought a new position in shares of GE Vernova in the 3rd quarter valued at about $28,000. Covestor Ltd lifted its stake in shares of GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in shares of GE Vernova in the 3rd quarter worth approximately $31,000. Prestige Wealth Management Group LLC increased its position in shares of GE Vernova by 175.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 77 shares during the last quarter. Finally, Planning Capital Management Corp raised its holdings in GE Vernova by 1,000.0% during the 3rd quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock valued at $36,000 after buying an additional 130 shares during the period.

GE Vernova Trading Up 5.0 %

NYSE GEV opened at $343.88 on Thursday. The firm’s 50 day moving average price is $309.70 and its 200-day moving average price is $230.69. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $357.09.

GE Vernova announced that its Board of Directors has authorized a share repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 6.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors 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 issued a $0.25 dividend. 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 0.29%.

Analyst Ratings Changes

A number of research analysts have weighed in on GEV shares. BMO Capital Markets boosted their price objective on shares of GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $356.00 to $367.00 and gave the stock an “overweight” rating in a research report on Wednesday. The Goldman Sachs Group raised their price objective on shares of GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Raymond James cut GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Finally, Wolfe Research started coverage on GE Vernova in a research note on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target for the company. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $307.15.

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.