Nisa Investment Advisors LLC Has $40.48 Million Position in GE Vernova Inc. (NYSE:GEV)

Nisa Investment Advisors LLC grew its holdings in GE Vernova Inc. (NYSE:GEV) by 200.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 123,027 shares of the company’s stock after buying an additional 82,025 shares during the quarter. Nisa Investment Advisors LLC’s holdings in GE Vernova were worth $40,478,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in GEV. Mountaineer Partners Management LLC acquired a new stake in GE Vernova in the 3rd quarter valued at about $2,507,296,000. Marshall Wace LLP bought a new stake in shares of GE Vernova during the second quarter valued at 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 raised its position in GE Vernova by 1,641.3% in the 2nd 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 during the last quarter. Finally, Lone Pine Capital LLC acquired a new position in GE Vernova during the 2nd quarter worth $253,322,000.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wells Fargo & Company lifted their target price on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. HSBC restated a “hold” rating and set a $255.00 target price (up from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Bank of America lifted their price target on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Oppenheimer assumed coverage on shares of GE Vernova in a report on Thursday, September 26th. They issued a “market perform” rating on the stock. Finally, TD Cowen started coverage on shares of GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $326.85.

GE Vernova Stock Up 3.8 %

Shares of NYSE GEV opened at $416.68 on Wednesday. The company has a fifty day moving average price of $345.63 and a 200 day moving average price of $266.62. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $417.21.

GE Vernova Dividend Announcement

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 issued a dividend of $0.25 per share. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.24%.

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 shares. This buyback authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.