GE Vernova Sees Unusually High Options Volume (NYSE:GEV)

GE Vernova Inc. (NYSE:GEV) was the target of unusually large options trading on Monday. Stock investors purchased 20,309 call options on the company. This is an increase of approximately 136% compared to the average daily volume of 8,613 call options.

GE Vernova Trading Up 4.7 %

GEV stock traded up $16.63 during mid-day trading on Monday, hitting $370.66. 1,514,851 shares of the stock were exchanged, compared to its average volume of 2,080,488. The business has a fifty day moving average price of $331.58 and a 200 day moving average price of $250.83. GE Vernova has a 12 month low of $115.00 and a 12 month high of $376.30.

GE Vernova declared that its board has authorized a share repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.27%. The ex-dividend date is Friday, December 20th.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Hsbc Global Res cut GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Morgan Stanley raised their price target on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Jefferies Financial Group increased their price objective on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Bank of America lifted their target price on GE Vernova from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Barclays increased their target price on shares of GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $314.35.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GEV. Trifecta Capital Advisors LLC bought a new position in GE Vernova in the second quarter worth $25,000. Meeder Asset Management Inc. bought a new position in shares of GE Vernova in the 2nd quarter worth about $25,000. Spectrum Wealth Counsel LLC purchased a new position in GE Vernova during the 2nd quarter valued at about $27,000. Castleview Partners LLC bought a new stake in GE Vernova during the third quarter worth about $28,000. Finally, Pathway Financial Advisers LLC purchased a new stake in GE Vernova in the second quarter worth about $29,000.

GE Vernova Company 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.