Moody National Bank Trust Division Has $1.70 Million Stake in GE Vernova Inc. (NYSE:GEV)

Moody National Bank Trust Division reduced its position in shares of GE Vernova Inc. (NYSE:GEV) by 5.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,173 shares of the company’s stock after selling 316 shares during the quarter. Moody National Bank Trust Division’s holdings in GE Vernova were worth $1,702,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Mountaineer Partners Management LLC purchased a new stake in GE Vernova in the 3rd quarter worth approximately $2,507,296,000. Newport Trust Company LLC acquired a new position in shares of GE Vernova in the second quarter worth $650,140,000. Marshall Wace LLP purchased a new stake in shares of GE Vernova during the second quarter worth $399,770,000. Legal & General Group Plc acquired a new stake in GE Vernova during the second quarter valued at $293,699,000. Finally, Electron Capital Partners LLC grew its stake in GE Vernova by 1,641.3% in the second quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock valued at $290,589,000 after purchasing an additional 1,596,996 shares in the last quarter.

GE Vernova Stock Performance

GEV opened at $366.14 on Tuesday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $376.30. The stock’s 50 day simple moving average is $339.96 and its 200-day simple moving average is $258.81.

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

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date is Friday, December 20th.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GEV shares. Barclays lifted 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. Guggenheim reduced their target price on shares of GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. The Goldman Sachs Group increased their price target on shares of GE Vernova from $324.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Oppenheimer began coverage on shares of GE Vernova in a research note on Thursday, September 26th. They issued a “market perform” rating for the company. Finally, Jefferies Financial Group increased their target price on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus 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.