Bonness Enterprises Inc. Takes Position in GE Vernova Inc. (NYSE:GEV)

Bonness Enterprises Inc. acquired a new position in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 620 shares of the company’s stock, valued at approximately $204,000.

Other institutional investors also recently modified their holdings of the company. Castleview Partners LLC bought a new position in GE Vernova in the third quarter valued at $28,000. Pathway Financial Advisers LLC bought a new position in shares of GE Vernova in the second quarter worth approximately $29,000. Covestor Ltd increased its stake 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 buying an additional 46 shares during the period. Darwin Wealth Management LLC bought a new stake in GE Vernova during the 3rd quarter valued at $31,000. Finally, Prestige Wealth Management Group LLC raised its stake in shares of GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 77 shares during the last quarter.

Analyst Ratings Changes

A number of analysts recently commented on the company. Raymond James lowered GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 11th. Barclays boosted their target price on GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Oppenheimer started coverage on shares of GE Vernova in a research report on Thursday, September 26th. They set a “market perform” rating for the company. Finally, Wells Fargo & Company lifted their price objective on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $321.35.

GE Vernova Trading Up 2.8 %

Shares of GEV stock opened at $401.84 on Tuesday. The stock has a fifty day simple moving average of $344.59 and a two-hundred day simple moving average of $265.01. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $404.13.

GE Vernova Announces Dividend

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

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

About GE Vernova

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.