Trust Co. of Toledo NA OH Acquires Shares of 1,054 GE Vernova Inc. (NYSE:GEV)

Trust Co. of Toledo NA OH acquired a new stake in GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,054 shares of the company’s stock, valued at approximately $347,000.

Several other large investors also recently bought and sold shares of GEV. Mountaineer Partners Management LLC purchased a new stake in shares of GE Vernova in the third quarter valued at about $2,507,296,000. Newport Trust Company LLC purchased a new position in GE Vernova during the second quarter worth about $650,140,000. Marshall Wace LLP purchased a new position in GE Vernova during the second quarter worth about $399,770,000. Legal & General Group Plc purchased a new position in GE Vernova during the second quarter worth about $293,699,000. Finally, Electron Capital Partners LLC increased its holdings 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 buying an additional 1,596,996 shares in the last quarter.

GE Vernova Stock Down 0.3 %

NYSE:GEV opened at $366.14 on Tuesday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $376.30. The firm’s 50 day moving average is $339.96 and its two-hundred day moving average is $258.81.

GE Vernova Announces Dividend

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

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GEV. Wells Fargo & Company increased their target price on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. The Goldman Sachs Group increased their target price on shares of GE Vernova from $324.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Oppenheimer began coverage on shares of GE Vernova in a report on Thursday, September 26th. They issued a “market perform” rating for the company. Jefferies Financial Group increased their target price on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $376.00 target price on shares of GE Vernova in a report on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average price target 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.