ST Germain D J Co. Inc. Increases Holdings in GE Vernova Inc. (NYSE:GEV)

ST Germain D J Co. Inc. lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 20.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,391 shares of the company’s stock after buying an additional 412 shares during the period. ST Germain D J Co. Inc.’s holdings in GE Vernova were worth $787,000 at the end of the most recent reporting period.

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

GE Vernova Stock Up 0.3 %

GE Vernova stock opened at $367.53 on Friday. The company has a 50 day moving average price of $338.55 and a 200 day moving average price of $256.41. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $376.30.

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

GE Vernova Dividend Announcement

The business also recently announced 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 is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GEV. BMO Capital Markets boosted their price target on GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a report on Monday, October 14th. JPMorgan Chase & Co. boosted their price target on GE Vernova from $356.00 to $367.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Wells Fargo & Company boosted their price target on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 11th. Finally, Jefferies Financial Group boosted their price target on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average price target of $314.35.

GE Vernova Company 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.