GE Vernova Inc. (NYSE:GEV) Shares Bought by Coldstream Capital Management Inc.

by · The Cerbat Gem

Coldstream Capital Management Inc. increased its holdings in GE Vernova Inc. (NYSE:GEV – Free Report) by 18.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,948 shares of the company’s stock after purchasing an additional 774 shares during the quarter. Coldstream Capital Management Inc.’s holdings in GE Vernova were worth $1,301,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Mountaineer Partners Management LLC acquired a new stake in GE Vernova during the 3rd quarter worth about $2,507,296,000. Newport Trust Company LLC acquired a new stake in shares of GE Vernova in the second quarter worth $650,140,000. Bank of New York Mellon Corp purchased a new position in shares of GE Vernova during the second quarter valued at $537,674,000. Marshall Wace LLP acquired a new position in GE Vernova during the second quarter valued at $399,770,000. Finally, Legal & General Group Plc purchased a new stake in GE Vernova in the 2nd quarter worth about $293,699,000.

GE Vernova Price Performance

GEV stock opened at $343.88 on Thursday. The business’s 50-day simple moving average is $307.87 and its 200 day simple moving average is $229.90. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $357.09.

GE Vernova declared that its board has approved a share repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be paid a $0.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.29%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GEV. Jefferies Financial Group upped their target price on GE Vernova from $293.00 to $336.00 and gave the company a “buy” rating in a report on Friday, October 18th. Bank of America increased their target price on shares of GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Truist Financial boosted their price target on shares of GE Vernova from $325.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday. Raymond James lowered GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Finally, HSBC restated a “hold” rating and issued a $255.00 target price (up previously from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Seven 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. Based on data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.15.

View Our Latest Stock Report on GE Vernova

GE Vernova Profile

(Free Report)

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.

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