Mitchell Mcleod Pugh & Williams Inc. Increases Stock Position in GE Vernova Inc. (NYSE:GEV)

Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of GE Vernova Inc. (NYSE:GEV) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,600 shares of the company’s stock after purchasing an additional 47 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in GE Vernova were worth $526,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GEV. MassMutual Private Wealth & Trust FSB lifted its holdings in GE Vernova by 3.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,133 shares of the company’s stock worth $373,000 after buying an additional 39 shares during the period. Purus Wealth Management LLC lifted its stake in GE Vernova by 8.6% in the fourth quarter. Purus Wealth Management LLC now owns 886 shares of the company’s stock worth $291,000 after acquiring an additional 70 shares during the period. BigSur Wealth Management LLC boosted its holdings in GE Vernova by 16.3% in the fourth quarter. BigSur Wealth Management LLC now owns 3,562 shares of the company’s stock valued at $1,173,000 after acquiring an additional 500 shares in the last quarter. UMB Bank n.a. increased its position in GE Vernova by 6.9% during the 4th quarter. UMB Bank n.a. now owns 1,940 shares of the company’s stock valued at $638,000 after purchasing an additional 125 shares during the period. Finally, M.E. Allison & CO. Inc. bought a new position in GE Vernova in the 4th quarter worth $204,000.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Citigroup boosted their price target on shares of GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. increased their target price on GE Vernova from $367.00 to $374.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 14th. Evercore ISI lifted their price target on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Guggenheim decreased their price objective on GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Finally, Wolfe Research began coverage on GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $321.35.

GE Vernova Stock Performance

GEV opened at $401.84 on Tuesday. The business has a fifty day moving average of $344.59 and a 200 day moving average of $265.01. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $404.13.

GE Vernova announced that its Board of Directors has authorized a share buyback plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

GE Vernova Dividend Announcement

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