Regent Peak Wealth Advisors LLC Grows Stock Position in GE Vernova Inc. (NYSE:GEV)

Regent Peak Wealth Advisors LLC grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 966 shares of the company’s stock after buying an additional 35 shares during the period. Regent Peak Wealth Advisors LLC’s holdings in GE Vernova were worth $318,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in GEV. Pittenger & Anderson Inc. raised its stake in shares of GE Vernova by 28.0% during the 3rd 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. SteelPeak Wealth LLC grew its position in shares of GE Vernova by 2.5% during the 3rd quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company’s stock valued at $400,000 after purchasing an additional 38 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of GE Vernova by 0.9% in the third quarter. Global Retirement Partners LLC now owns 4,507 shares of the company’s stock worth $1,149,000 after purchasing an additional 40 shares during the period. Whittier Trust Co. raised its position in shares of 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 buying an additional 40 shares in the last quarter. Finally, Dunhill Financial LLC boosted its stake in GE Vernova by 21.6% during the third quarter. Dunhill Financial LLC now owns 225 shares of the company’s stock valued at $57,000 after buying an additional 40 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have weighed in on GEV shares. Hsbc Global Res cut GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Morgan Stanley lifted their target price on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 11th. Truist Financial raised their price target on GE Vernova from $325.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Guggenheim reduced their price objective on GE Vernova from $400.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.35.

GE Vernova Trading Down 0.6 %

NYSE GEV traded down $2.26 during trading hours on Tuesday, reaching $369.06. 1,394,609 shares of the company’s stock traded hands, compared to its average volume of 2,408,640. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $376.30. The firm has a 50-day simple moving average of $333.20 and a 200 day simple moving average of $252.19.

GE Vernova Announces Dividend

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

GE Vernova declared that its board has authorized a stock buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.