AdvisorNet Financial Inc Has $611,000 Holdings in GE Vernova Inc. (NYSE:GEV)

AdvisorNet Financial Inc boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,859 shares of the company’s stock after buying an additional 30 shares during the period. AdvisorNet Financial Inc’s holdings in GE Vernova were worth $611,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Castleview Partners LLC acquired a new stake in shares of GE Vernova during the 3rd quarter valued at about $28,000. Pathway Financial Advisers LLC acquired a new stake in GE Vernova during the second quarter valued at approximately $29,000. Glass Jacobson Investment Advisors llc acquired a new stake in GE Vernova during the second quarter valued at approximately $30,000. Covestor Ltd grew its stake in shares of GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares during the period. Finally, Darwin Wealth Management LLC acquired a new position in shares of GE Vernova in the 3rd quarter worth approximately $31,000.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $386.40 on Thursday. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $392.77. The firm has a 50 day moving average price of $341.28 and a 200 day moving average price of $260.29.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.26%. 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 buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of analyst reports. Hsbc Global Res cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $376.00 target price on shares of GE Vernova in a report on Wednesday, December 11th. Citigroup lifted their price target on shares of GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a report on Monday, December 9th. Morgan Stanley upped their price objective on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Wells Fargo & Company lifted their target price on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $318.60.

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.