731 Shares in GE Vernova Inc. (NYSE:GEV) Bought by Exchange Bank

Exchange Bank acquired a new position in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 731 shares of the company’s stock, valued at approximately $240,000.

Other large investors have also made changes to their positions in the company. FMR LLC lifted its holdings in shares of GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after buying an additional 584,208 shares during the last quarter. State Street Corp raised its stake in GE Vernova by 1.1% during the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after purchasing an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC bought a new stake in GE Vernova in the 3rd quarter valued at $2,507,296,000. Geode Capital Management LLC increased its holdings in shares of GE Vernova by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after purchasing an additional 80,479 shares during the period. Finally, WCM Investment Management LLC raised its position in shares of GE Vernova by 83.1% during the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after buying an additional 1,161,901 shares during the last quarter.

Analyst Upgrades and Downgrades

GEV has been the topic of several research reports. The Goldman Sachs Group boosted their price target on GE Vernova from $400.00 to $446.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. TD Cowen assumed coverage on shares of GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target on the stock. Citigroup upped their target price on shares of GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Oppenheimer began coverage on shares of GE Vernova in a research note on Thursday, September 26th. They set a “market perform” rating for the company. Finally, Wolfe Research initiated coverage on GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $321.35.

GE Vernova Stock Up 2.8 %

Shares of GEV opened at $401.84 on Tuesday. The stock’s fifty day simple moving average is $345.63 and its 200-day simple moving average is $266.62. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $404.13.

GE Vernova announced that its board has authorized a share buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

GE Vernova Announces Dividend

The firm 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 dividend of $0.25 per share. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.25%.

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.