Diversified Trust Co Increases Stock Position in GE Vernova Inc. (NYSE:GEV)

Diversified Trust Co raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 61.9% in the 4th quarter, HoldingsChannel reports. The firm owned 15,079 shares of the company’s stock after purchasing an additional 5,768 shares during the period. Diversified Trust Co’s holdings in GE Vernova were worth $4,960,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Castleview Partners LLC purchased a new position in GE Vernova in the third quarter worth $28,000. Covestor Ltd lifted its stake 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 purchasing an additional 46 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in shares of GE Vernova in the 3rd quarter worth about $31,000. Prestige Wealth Management Group LLC increased 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 valued at $31,000 after purchasing an additional 77 shares during the last quarter. Finally, Planning Capital Management Corp lifted its position in GE Vernova by 1,000.0% in the 3rd quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock worth $36,000 after buying an additional 130 shares during the last quarter.

GE Vernova Trading Down 0.7 %

NYSE:GEV traded down $2.45 during mid-day trading on Tuesday, hitting $368.87. 946,173 shares of the company’s stock were exchanged, compared to its average volume of 2,284,209. GE Vernova Inc. has a one year low of $115.00 and a one year high of $376.30. The business has a fifty day moving average price of $333.20 and a 200 day moving average price of $252.19.

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

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend is Friday, December 20th.

Wall Street Analyst Weigh In

GEV has been the topic of a number of recent research reports. Wolfe Research started coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target on the stock. Evercore ISI boosted 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. BMO Capital Markets raised their price objective on GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft began coverage on GE Vernova in a report on Monday, October 21st. They set a “buy” rating and a $354.00 target price for the company. Finally, Jefferies Financial Group lifted their price target on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently 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.