Folger Nolan Fleming Douglas Capital Management Inc. Sells 60 Shares of GE Vernova Inc. (NYSE:GEV)

Folger Nolan Fleming Douglas Capital Management Inc. reduced its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,554 shares of the company’s stock after selling 60 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in GE Vernova were worth $840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Castleview Partners LLC purchased a new position in GE Vernova in the 3rd quarter worth about $28,000. Pathway Financial Advisers LLC purchased a new position in shares of GE Vernova during the second quarter valued at approximately $29,000. Glass Jacobson Investment Advisors llc bought a new position in GE Vernova during the second quarter valued at approximately $30,000. Covestor Ltd lifted its position in GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares during the period. Finally, Darwin Wealth Management LLC purchased a new stake in GE Vernova in the third quarter worth approximately $31,000.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $401.84 on Friday. The firm has a fifty day moving average price of $343.37 and a 200 day moving average price of $262.08. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $404.13.

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

GE Vernova Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wolfe Research started coverage on GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target on the stock. Citigroup raised their target price on GE Vernova from $292.00 to $361.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. TD Cowen initiated coverage on shares of GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target for the company. The Goldman Sachs Group boosted their target price on shares of GE Vernova from $400.00 to $446.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of GE Vernova in a research report on Monday, October 21st. They issued a “buy” rating and a $354.00 price target on the stock. Seven 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 MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.35.

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.