GE Vernova Inc. (NYSE:GEV) Position Boosted by Parisi Gray Wealth Management

Parisi Gray Wealth Management lifted its stake in GE Vernova Inc. (NYSE:GEV) by 4.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,562 shares of the company’s stock after purchasing an additional 70 shares during the quarter. Parisi Gray Wealth Management’s holdings in GE Vernova were worth $514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Pittenger & Anderson Inc. raised its position in GE Vernova by 28.0% during the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock valued at $41,000 after acquiring an additional 35 shares in the last quarter. Regent Peak Wealth Advisors LLC raised its holdings in shares of GE Vernova by 3.8% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 966 shares of the company’s stock valued at $318,000 after purchasing an additional 35 shares in the last quarter. SteelPeak Wealth LLC lifted its stake in shares of GE Vernova by 2.5% in 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 during the last quarter. Global Retirement Partners LLC boosted its holdings in 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 in the last quarter. Finally, Whittier Trust Co. raised its holdings in GE Vernova by 1.9% during the third quarter. Whittier Trust Co. now owns 2,106 shares of the company’s stock valued at $537,000 after buying an additional 40 shares in the last quarter.

GE Vernova Trading Down 0.3 %

Shares of GEV traded down $0.96 on Monday, reaching $366.14. 3,263,716 shares of the company’s stock were exchanged, compared to its average volume of 2,796,763. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $376.30. The business has a 50 day moving average price of $338.55 and a two-hundred day moving average price of $257.48.

GE Vernova announced that its board has authorized a stock buyback program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

GE Vernova Announces Dividend

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 paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend is Friday, December 20th.

Analysts Set New Price Targets

A number of brokerages have recently commented on GEV. Wells Fargo & Company increased their price objective on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. HSBC reaffirmed a “hold” rating and set a $255.00 price objective (up from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Morgan Stanley boosted their target price on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. raised their price target on GE Vernova from $356.00 to $367.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, Citigroup boosted their price objective on 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.