Trust Co of Kansas Takes $245,000 Position in GE Vernova Inc. (NYSE:GEV)

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mountaineer Partners Management LLC purchased a new position in shares of GE Vernova in the third quarter worth about $2,507,296,000. Newport Trust Company LLC acquired a new position in GE Vernova in the 2nd quarter worth approximately $650,140,000. Marshall Wace LLP acquired a new position in GE Vernova in the 2nd quarter worth approximately $399,770,000. Legal & General Group Plc purchased a new position in GE Vernova during the 2nd quarter worth approximately $293,699,000. Finally, Electron Capital Partners LLC lifted its stake in GE Vernova by 1,641.3% during the 2nd quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock valued at $290,589,000 after acquiring an additional 1,596,996 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GEV. Jefferies Financial Group increased their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Hsbc Global Res downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. 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. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 11th. Finally, Wolfe Research began coverage on GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $321.35.

GE Vernova Stock Up 2.8 %

Shares of GEV opened at $401.84 on Friday. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $404.13. The firm’s fifty day moving average is $343.37 and its two-hundred day moving average is $262.08.

GE Vernova Announces Dividend

The firm also recently declared 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. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.25%.

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

GE Vernova 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.