Birmingham Capital Management Co. Inc. AL Sells 385 Shares of GE Vernova Inc. (NYSE:GEV)

Birmingham Capital Management Co. Inc. AL lessened its stake in shares of GE Vernova Inc. (NYSE:GEV) by 14.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,232 shares of the company’s stock after selling 385 shares during the period. Birmingham Capital Management Co. Inc. AL’s holdings in GE Vernova were worth $569,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GEV. Deseret Mutual Benefit Administrators bought a new position in GE Vernova in the second quarter worth approximately $25,000. Trifecta Capital Advisors LLC purchased a new position in GE Vernova in the second quarter valued at about $25,000. Meeder Asset Management Inc. bought a new position in GE Vernova in the second quarter worth about $25,000. Timber Creek Capital Management LLC purchased a new stake in shares of GE Vernova during the second quarter valued at about $27,000. Finally, Gradient Investments LLC purchased a new position in shares of GE Vernova in the 2nd quarter worth approximately $27,000.

Wall Street Analyst Weigh In

GEV has been the subject of a number of research analyst reports. Bank of America increased their price target on GE Vernova from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. BMO Capital Markets increased their price target on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Company started coverage on shares of GE Vernova in a report on Thursday, November 21st. They issued an “overweight” rating and a $385.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $376.00 price target on shares of GE Vernova in a report on Wednesday. Finally, Barclays lifted their price objective on GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $310.98.

GE Vernova Trading Up 1.2 %

GEV traded up $3.83 on Friday, hitting $333.74. 1,175,230 shares of the company’s stock were exchanged, compared to its average volume of 3,439,991. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $357.09. The firm has a 50-day moving average price of $311.20 and a 200-day moving average price of $231.38.

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

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Friday, December 20th.

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.