CWA Asset Management Group LLC Increases Holdings in GE Vernova Inc. (NYSE:GEV)

CWA Asset Management Group LLC lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 15.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,338 shares of the company’s stock after purchasing an additional 178 shares during the quarter. CWA Asset Management Group LLC’s holdings in GE Vernova were worth $440,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in GEV. National Bank of Canada FI grew its holdings in GE Vernova by 52.3% during the 2nd quarter. National Bank of Canada FI now owns 9,190 shares of the company’s stock valued at $1,538,000 after buying an additional 3,155 shares in the last quarter. Victory Capital Management Inc. purchased a new position in GE Vernova during the second quarter valued at approximately $15,866,000. Private Advisor Group LLC bought a new stake in GE Vernova during the 2nd quarter worth approximately $3,184,000. Candriam S.C.A. purchased a new stake in GE Vernova in the 2nd quarter worth approximately $565,000. Finally, Savant Capital LLC bought a new position in GE Vernova in the 2nd quarter valued at $1,461,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GEV shares. Guggenheim decreased their price target on shares of GE Vernova from $400.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 11th. Morgan Stanley boosted their price objective on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Hsbc Global Res downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Finally, The Goldman Sachs Group boosted their price target on shares of GE Vernova from $324.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Seven research 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $314.35.

GE Vernova Stock Down 0.6 %

Shares of NYSE:GEV opened at $366.30 on Thursday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $376.30. The company has a 50-day moving average price of $335.93 and a 200-day moving average price of $254.32.

GE Vernova declared that its Board of Directors has approved a share repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

GE Vernova Announces Dividend

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

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.