GE Vernova Inc. (NYSE:GEV) Shares Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 24.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 21,969 shares of the company’s stock after acquiring an additional 4,333 shares during the quarter. Sanctuary Advisors LLC’s holdings in GE Vernova were worth $5,602,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. acquired a new position in GE Vernova during the 2nd quarter valued at about $1,245,000. Swedbank AB acquired a new position in shares of GE Vernova during the second quarter worth approximately $6,219,000. Brookstone Capital Management bought a new position in GE Vernova in the 2nd quarter worth approximately $629,000. Gradient Investments LLC acquired a new stake in GE Vernova in the 2nd quarter valued at approximately $27,000. Finally, Raymond James & Associates raised its stake in GE Vernova by 11,880.6% during the 2nd quarter. Raymond James & Associates now owns 191,689 shares of the company’s stock valued at $32,877,000 after acquiring an additional 190,089 shares in the last quarter.

GE Vernova Price Performance

GE Vernova stock opened at $332.01 on Monday. GE Vernova Inc. has a one year low of $115.00 and a one year high of $357.09. The company’s fifty day moving average price is $312.53 and its two-hundred day moving average price is $233.23.

GE Vernova announced that its Board of Directors has initiated a share repurchase program 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 programs are typically a sign that the company’s leadership believes its shares are undervalued.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Friday, December 20th.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Raymond James downgraded shares of GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Oppenheimer assumed coverage on shares of GE Vernova in a report on Thursday, September 26th. They issued a “market perform” rating for the company. Truist Financial boosted their target price on GE Vernova from $325.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Morgan Stanley increased their price target on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Evercore ISI boosted their price objective on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $314.35.

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.