2,790 Shares in GE Vernova Inc. (NYSE:GEV) Bought by Guardian Investment Management

Guardian Investment Management purchased a new stake in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,790 shares of the company’s stock, valued at approximately $918,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of 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 bought a new position in shares of GE Vernova during the 2nd quarter worth approximately $399,770,000. Legal & General Group Plc acquired a new stake in shares of GE Vernova in the second quarter valued at approximately $293,699,000. Electron Capital Partners LLC lifted its position in shares of GE Vernova by 1,641.3% in the second quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock worth $290,589,000 after purchasing an additional 1,596,996 shares in the last quarter. Finally, Lone Pine Capital LLC bought a new stake in shares of GE Vernova in the second quarter worth $253,322,000.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $401.84 on Monday. The firm has a 50-day moving average of $344.59 and a 200-day moving average of $264.36. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $404.13.

GE Vernova announced that its board has authorized a share repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is 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 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Friday, December 20th.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GEV shares. Guggenheim lowered their price target on shares of GE Vernova from $400.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Jefferies Financial Group lifted their target price on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Evercore ISI increased their price target on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group raised their price target on GE Vernova from $400.00 to $446.00 and gave the company a “buy” rating in a research note on Thursday. Finally, HSBC reiterated a “hold” rating and set a $255.00 price objective (up previously from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average 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.