GE Vernova Inc. (NYSE:GEV) Shares Bought by Trust Co. of Vermont

Trust Co. of Vermont lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 11.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,785 shares of the company’s stock after acquiring an additional 190 shares during the period. Trust Co. of Vermont’s holdings in GE Vernova were worth $587,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in GEV. Castleview Partners LLC acquired a new stake in shares of GE Vernova during the 3rd quarter worth about $28,000. Covestor Ltd boosted its position in GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in GE Vernova in the 3rd quarter worth approximately $31,000. Prestige Wealth Management Group LLC raised its holdings in GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 77 shares during the last quarter. Finally, Planning Capital Management Corp lifted its stake in shares of GE Vernova by 1,000.0% during the 3rd quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock worth $36,000 after purchasing an additional 130 shares during the period.

GE Vernova Stock Performance

Shares of GEV stock opened at $401.84 on Friday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $404.13. The firm has a fifty day simple moving average of $344.59 and a 200-day simple moving average of $263.70.

GE Vernova declared that its Board of Directors has approved a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be given a $0.25 dividend. 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

GEV has been the subject of a number of recent analyst reports. Raymond James downgraded GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Citigroup lifted their price target on GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a report on Monday, December 9th. Wells Fargo & Company raised their target price on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 11th. Finally, Evercore ISI increased their price target 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. Seven research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average price target 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.