746 Shares in GE Vernova Inc. (NYSE:GEV) Bought by Trust Co of Kansas

Trust Co of Kansas bought a new position in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 746 shares of the company’s stock, valued at approximately $245,000.

A number of other institutional investors have also recently made changes to their positions in the business. Armstrong Advisory Group Inc. lifted its position in GE Vernova by 3.5% in the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after buying an additional 27 shares during the last quarter. AdvisorNet Financial Inc boosted its position in shares of GE Vernova by 1.6% during the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after buying an additional 30 shares during the period. Pittenger & Anderson Inc. raised its holdings in shares of GE Vernova by 28.0% in the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock worth $41,000 after buying an additional 35 shares during the period. Regent Peak Wealth Advisors LLC lifted its stake in shares of GE Vernova by 3.8% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 966 shares of the company’s stock worth $318,000 after acquiring an additional 35 shares during the last quarter. Finally, SteelPeak Wealth LLC boosted its holdings in GE Vernova by 2.5% during the 3rd quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company’s stock valued at $400,000 after acquiring an additional 38 shares during the period.

GE Vernova Stock Up 2.8 %

Shares of GEV stock opened at $401.84 on Friday. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $404.13. The business’s fifty day simple moving average is $343.37 and its 200-day simple moving average is $262.08.

GE Vernova announced that its Board of Directors has authorized a share 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 typically a sign that the company’s board believes its shares are undervalued.

GE Vernova Announces Dividend

The firm also recently announced 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 0.25%. The ex-dividend date of this dividend is Friday, December 20th.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. TD Cowen initiated coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price on the stock. Wolfe Research initiated coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target on the stock. HSBC reissued a “hold” rating and issued a $255.00 price objective (up from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Wells Fargo & Company raised their target price on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Barclays boosted their price target on GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Seven analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $321.35.

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.