TD Private Client Wealth LLC Increases Stock Holdings in GE Vernova Inc. (NYSE:GEV)

TD Private Client Wealth LLC boosted its stake in GE Vernova Inc. (NYSE:GEV) by 8.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 740 shares of the company’s stock after buying an additional 60 shares during the quarter. TD Private Client Wealth LLC’s holdings in GE Vernova were worth $189,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Deseret Mutual Benefit Administrators purchased a new stake in shares of GE Vernova in the second quarter valued at about $25,000. Trifecta Capital Advisors LLC purchased a new stake in GE Vernova in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. bought a new position in shares of GE Vernova during the 2nd quarter worth approximately $25,000. Gradient Investments LLC purchased a new position in shares of GE Vernova in the 2nd quarter worth approximately $27,000. Finally, Spectrum Wealth Counsel LLC bought a new position in shares of GE Vernova in the second quarter valued at approximately $27,000.

GE Vernova Stock Performance

GEV stock opened at $332.01 on Friday. The firm has a 50 day moving average of $312.53 and a 200-day moving average of $232.84. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $357.09.

GE Vernova declared that its board has authorized 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 buy up to 6.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.30%. The ex-dividend date is Friday, December 20th.

Wall Street Analyst Weigh In

GEV has been the topic of a number of recent analyst reports. Guggenheim cut their price objective on GE Vernova from $400.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday. Jefferies Financial Group boosted their price target on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova in a report on Monday, October 21st. They set a “buy” rating and a $354.00 price objective for the company. HSBC reiterated a “hold” rating and issued a $255.00 target price (up from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Finally, Hsbc Global Res lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. 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. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $314.35.

About GE Vernova

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.