GE Vernova Inc. (NYSE:GEV) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its position in GE Vernova Inc. (NYSE:GEV) by 284.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 617,559 shares of the company’s stock after purchasing an additional 456,879 shares during the quarter. Assenagon Asset Management S.A.’s holdings in GE Vernova were worth $203,134,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in shares of GE Vernova during the second quarter worth about $375,000. American Century Companies Inc. purchased a new stake in GE Vernova in the 2nd quarter worth approximately $4,940,000. Parallel Advisors LLC acquired a new position in GE Vernova in the 2nd quarter valued at $670,000. Thoroughbred Financial Services LLC purchased a new position in shares of GE Vernova during the 2nd quarter worth $251,000. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of GE Vernova during the second quarter worth $45,674,000.

Wall Street Analyst Weigh In

GEV has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 target price for the company. Evercore ISI increased their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $376.00 price target on shares of GE Vernova in a research report on Wednesday, December 11th. Finally, Wolfe Research assumed coverage on shares of GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target on the stock. Seven analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $318.60.

GE Vernova Trading Up 4.1 %

Shares of GEV stock opened at $381.73 on Wednesday. The company’s fifty day moving average price is $341.28 and its two-hundred day moving average price is $260.29. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $388.88.

GE Vernova announced that its board has initiated a stock repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

GE Vernova Announces Dividend

The firm also recently declared 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. This represents a $1.00 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Friday, December 20th.

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.