Park Avenue Securities LLC Boosts Stake in GE Vernova Inc. (NYSE:GEV)

Park Avenue Securities LLC boosted its position in GE Vernova Inc. (NYSE:GEV) by 9.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,744 shares of the company’s stock after purchasing an additional 735 shares during the period. Park Avenue Securities LLC’s holdings in GE Vernova were worth $2,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

GE Vernova Price Performance

NYSE:GEV opened at $401.84 on Friday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $404.13. The company’s 50 day moving average is $343.37 and its two-hundred day moving average is $262.08.

GE Vernova Dividend Announcement

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

GE Vernova announced that its Board of Directors has approved a share buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Evercore ISI boosted their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Bank of America increased their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday. Oppenheimer started coverage on GE Vernova in a research report on Thursday, September 26th. They set a “market perform” rating for the company. JPMorgan Chase & Co. increased their price target on GE Vernova from $367.00 to $374.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, William Blair restated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 11th. Seven equities research 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. Based on data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus 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.