GE Vernova Inc. (NYSE:GEV) Shares Sold by JTC Employer Solutions Trustee Ltd

JTC Employer Solutions Trustee Ltd trimmed its position in shares of GE Vernova Inc. (NYSE:GEV) by 4.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 597 shares of the company’s stock after selling 31 shares during the period. JTC Employer Solutions Trustee Ltd’s holdings in GE Vernova were worth $196,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Investment Advisors LLC boosted its stake in GE Vernova by 34.5% during the 4th quarter. Capital Investment Advisors LLC now owns 2,999 shares of the company’s stock valued at $987,000 after purchasing an additional 769 shares during the period. Brookstone Capital Management raised its position in shares of GE Vernova by 10.2% during the 4th quarter. Brookstone Capital Management now owns 4,923 shares of the company’s stock worth $1,619,000 after buying an additional 457 shares in the last quarter. City State Bank raised its position in shares of GE Vernova by 59.8% during the 4th quarter. City State Bank now owns 441 shares of the company’s stock worth $145,000 after buying an additional 165 shares in the last quarter. Trust Co. of Toledo NA OH bought a new stake in shares of GE Vernova during the 4th quarter worth about $347,000. Finally, Fiduciary Alliance LLC bought a new stake in shares of GE Vernova during the 4th quarter worth about $1,576,000.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GEV shares. Guggenheim dropped their price target on shares of GE Vernova from $400.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a research report on Monday, October 21st. They set a “buy” rating and a $354.00 price target on the stock. BMO Capital Markets boosted their price target on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Barclays boosted their price target on shares of GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Wolfe Research initiated coverage on shares of GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 target price on the stock. Seven equities research 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $314.35.

GE Vernova Stock Down 2.0 %

GE Vernova stock traded down $7.16 during trading hours on Monday, hitting $359.94. The company had a trading volume of 1,450,805 shares, compared to its average volume of 2,546,454. The firm’s fifty day moving average is $338.55 and its 200-day moving average is $257.48. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $376.30.

GE Vernova declared that its Board of Directors has approved a stock buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.28%.

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.