Perfromance Wealth Partners LLC Has $17.72 Million Stock Position in GE Vernova Inc. (NYSE:GEV)

Perfromance Wealth Partners LLC raised its position in shares of GE Vernova Inc. (NYSE:GEV) by 27.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,881 shares of the company’s stock after purchasing an additional 11,529 shares during the period. GE Vernova makes up approximately 0.6% of Perfromance Wealth Partners LLC’s investment portfolio, making the stock its 18th biggest position. Perfromance Wealth Partners LLC’s holdings in GE Vernova were worth $17,723,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its stake in shares of GE Vernova by 2.5% during 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 stake in shares of GE Vernova by 1.1% during the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after buying an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC bought a new stake in shares of GE Vernova during the third quarter worth $2,507,296,000. Geode Capital Management LLC grew its stake in shares of GE Vernova by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after buying an additional 80,479 shares during the last quarter. Finally, WCM Investment Management LLC grew its stake in shares of GE Vernova by 83.1% during the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after buying an additional 1,161,901 shares during the last quarter.

GE Vernova Trading Up 3.8 %

NYSE:GEV opened at $416.68 on Wednesday. The firm has a 50-day moving average price of $345.63 and a two-hundred day moving average price of $266.62. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $417.21.

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

GE Vernova Announces Dividend

The company also recently declared 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 0.24%. The ex-dividend date of this dividend is Friday, December 20th.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GEV. Hsbc Global Res cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Citigroup boosted their price objective on shares of GE Vernova from $292.00 to $361.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Evercore ISI boosted their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Wolfe Research assumed coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective on the stock. Finally, BMO Capital Markets upped their price target on shares of GE Vernova from $360.00 to $420.00 in a research report on Tuesday. Seven investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $326.85.

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.