Cacti Asset Management LLC Has $1.99 Million Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Cacti Asset Management LLC boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,020 shares of the company’s stock after purchasing an additional 187 shares during the quarter. Cacti Asset Management LLC’s holdings in GE Vernova were worth $1,988,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Mountaineer Partners Management LLC bought a new position in GE Vernova in the 3rd quarter valued at about $2,507,296,000. Newport Trust Company LLC acquired a new stake in GE Vernova during the 2nd quarter worth approximately $650,140,000. Marshall Wace LLP bought a new stake in GE Vernova in the 2nd quarter valued at $399,770,000. Legal & General Group Plc acquired a new position in GE Vernova in the 2nd quarter valued at $293,699,000. Finally, Electron Capital Partners LLC lifted its holdings in shares of GE Vernova by 1,641.3% during the second quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock worth $290,589,000 after buying an additional 1,596,996 shares in the last quarter.

GE Vernova Trading Up 3.5 %

Shares of NYSE:GEV traded up $11.64 during trading on Thursday, reaching $340.57. The stock had a trading volume of 872,569 shares, compared to its average volume of 3,416,386. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $357.09. The firm’s fifty day moving average is $329.53 and its 200 day moving average is $247.92.

GE Vernova announced that its Board of Directors has authorized a share buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to repurchase 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 Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently commented on GEV shares. Wells Fargo & Company upped their price target on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Morgan Stanley lifted their price target on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Wolfe Research started coverage on GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target on the stock. Citigroup upped their target price on GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a research report on Monday, December 9th. Finally, The Goldman Sachs Group boosted their price target on GE Vernova from $324.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Seven investment 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 stock. According to data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $314.35.

About GE Vernova

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.