Merit Financial Group LLC raised its stake in shares of GE Vernova Inc. (NYSE:GEV – Free Report) by 23.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,605 shares of the company’s stock after acquiring an additional 1,270 shares during the period. Merit Financial Group LLC’s holdings in GE Vernova were worth $2,173,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Mountaineer Partners Management LLC acquired a new stake in GE Vernova in the 3rd quarter valued at approximately $2,507,296,000. Marshall Wace LLP purchased a new position in shares of GE Vernova during the second quarter worth $399,770,000. Legal & General Group Plc acquired a new stake in shares of GE Vernova in the second quarter valued at $293,699,000. Electron Capital Partners LLC raised its holdings in shares of GE Vernova by 1,641.3% in the 2nd quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock valued at $290,589,000 after buying an additional 1,596,996 shares during the period. Finally, Lone Pine Capital LLC acquired a new position in GE Vernova during the 2nd quarter worth about $253,322,000.
GE Vernova Stock Performance
NYSE GEV opened at $401.84 on Monday. GE Vernova Inc. has a one year low of $115.00 and a one year high of $404.13. The firm’s fifty day moving average is $344.59 and its two-hundred day moving average is $264.36.
GE Vernova Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.25%. The ex-dividend date is Friday, December 20th.
Analyst Upgrades and Downgrades
GEV has been the topic of a number of recent research reports. HSBC reiterated a “hold” rating and set a $255.00 price target (up from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Bank of America upped their target price on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. TD Cowen started coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target for the company. Wells Fargo & Company upped their price objective on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, BMO Capital Markets lifted their target price on GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $321.35.
Get Our Latest Stock Report on GE Vernova
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.
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