BNC Wealth Management LLC Grows Stock Holdings in GE Vernova Inc. (NYSE:GEV)

BNC Wealth Management LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 6.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 945 shares of the company’s stock after buying an additional 61 shares during the quarter. BNC Wealth Management LLC’s holdings in GE Vernova were worth $311,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Mountaineer Partners Management LLC bought a new stake in GE Vernova in the 3rd quarter valued at $2,507,296,000. Marshall Wace LLP bought a new stake in GE Vernova in the 2nd quarter valued at $399,770,000. Legal & General Group Plc bought a new stake in GE Vernova in the 2nd quarter valued at $293,699,000. Electron Capital Partners LLC increased its holdings 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 valued at $290,589,000 after acquiring an additional 1,596,996 shares during the last quarter. Finally, Lone Pine Capital LLC bought a new stake in shares of GE Vernova in the 2nd quarter worth about $253,322,000.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $401.84 on Friday. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $404.13. The firm’s 50 day simple moving average is $344.59 and its two-hundred day simple moving average is $263.70.

GE Vernova declared that its Board of Directors has initiated a share buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

GE Vernova Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Citigroup upped their price target on shares of GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a report on Monday, December 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $376.00 price objective on shares of GE Vernova in a research report on Wednesday, December 11th. Truist Financial boosted their price objective on shares of GE Vernova from $400.00 to $420.00 and gave the company a “buy” rating in a research report on Thursday. William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 11th. Finally, BMO Capital Markets boosted their price objective on shares of GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, GE Vernova has a consensus 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.