Harbor Group Inc. Acquires Shares of 766 GE Vernova Inc. (NYSE:GEV)

Harbor Group Inc. bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 766 shares of the company’s stock, valued at approximately $252,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GEV. FMR LLC increased its position in GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after buying an additional 584,208 shares during the last quarter. State Street Corp grew its position in shares of GE Vernova by 1.1% in the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after purchasing an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC bought a new position in shares of GE Vernova in the third quarter valued at approximately $2,507,296,000. Geode Capital Management LLC increased its holdings in GE Vernova by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after acquiring an additional 80,479 shares during the period. Finally, Newport Trust Company LLC bought a new position in GE Vernova in the 2nd quarter valued at $650,140,000.

GE Vernova Price Performance

GE Vernova stock opened at $390.86 on Friday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $397.76. The business’s fifty day simple moving average is $342.29 and its two-hundred day simple moving average is $261.18.

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

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend is Friday, December 20th.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Oppenheimer started coverage on GE Vernova in a research note on Thursday, September 26th. They issued a “market perform” rating on the stock. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 11th. HSBC restated a “hold” rating and set a $255.00 price objective (up previously from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Morgan Stanley raised their price target on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Jefferies Financial Group upped their price objective on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Seven 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, the stock has an average rating of “Moderate Buy” and a consensus target price 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.