Wealth Enhancement Advisory Services LLC Has $38.27 Million Stake in GE Vernova Inc. (NYSE:GEV)

Wealth Enhancement Advisory Services LLC lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 116,346 shares of the company’s stock after buying an additional 1,203 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in GE Vernova were worth $38,270,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Waverton Investment Management Ltd grew its position in shares of GE Vernova by 10.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock worth $185,459,000 after buying an additional 66,455 shares during the period. Hanlon Investment Management Inc. acquired a new stake in GE Vernova in the 3rd quarter valued at $1,101,000. Atria Investments Inc grew its position in GE Vernova by 127.0% in the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after purchasing an additional 2,847 shares during the period. Fractal Investments LLC acquired a new stake in GE Vernova in the 3rd quarter valued at $1,530,000. Finally, Legal & General Group Plc acquired a new stake in GE Vernova in the 2nd quarter valued at $293,699,000.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Oppenheimer assumed coverage on shares of GE Vernova in a research report on Thursday, September 26th. They issued a “market perform” rating for the company. Jefferies Financial Group lifted their price target on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova in a research report on Monday, October 21st. They issued a “buy” rating and a $354.00 price target for the company. BMO Capital Markets lifted their price objective on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Truist Financial lifted their price objective on shares of GE Vernova from $325.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Seven 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 stock. According to MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $314.35.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $367.53 on Friday. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $376.30. The stock’s 50-day simple moving average is $338.55 and its 200 day simple moving average is $256.41.

GE Vernova announced that its Board of Directors has authorized a stock buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

GE Vernova Dividend Announcement

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

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.