Triangle Securities Wealth Management Invests $213,000 in GE Vernova Inc. (NYSE:GEV)

Triangle Securities Wealth Management bought a new position in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 649 shares of the company’s stock, valued at approximately $213,000.

A number of other large investors have also modified their holdings of GEV. American Century Companies Inc. purchased a new position in GE Vernova in the 2nd quarter valued at approximately $4,940,000. XTX Topco Ltd purchased a new position in GE Vernova in the 2nd quarter valued at approximately $383,000. Intech Investment Management LLC purchased a new position in GE Vernova in the 2nd quarter valued at approximately $970,000. Brighton Jones LLC purchased a new position in GE Vernova in the 2nd quarter valued at approximately $361,000. Finally, Ieq Capital LLC purchased a new position in GE Vernova in the 2nd quarter valued at approximately $2,027,000.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $401.84 on Monday. The business has a 50-day moving average of $344.59 and a 200-day moving average of $264.36. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $404.13.

GE Vernova Announces Dividend

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

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

Wall Street Analysts Forecast Growth

GEV has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $376.00 price objective on shares of GE Vernova in a research note on Wednesday, December 11th. JPMorgan Chase & Co. boosted their price target on GE Vernova from $367.00 to $374.00 and gave the stock an “overweight” rating in a report on Tuesday, January 14th. Bank of America increased their price objective on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Citigroup boosted their target price on shares of GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Finally, Wells Fargo & Company raised their price target on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $321.35.

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.