Ballentine Partners LLC Purchases 152 Shares of GE Vernova Inc. (NYSE:GEV)

Ballentine Partners LLC raised its position in shares of GE Vernova Inc. (NYSE:GEV) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,090 shares of the company’s stock after acquiring an additional 152 shares during the quarter. Ballentine Partners LLC’s holdings in GE Vernova were worth $1,674,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Waverton Investment Management Ltd boosted its position in GE Vernova by 10.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock valued at $185,459,000 after acquiring an additional 66,455 shares in the last quarter. Hanlon Investment Management Inc. bought a new stake in GE Vernova during the 3rd quarter valued at approximately $1,101,000. Atria Investments Inc boosted its position in GE Vernova by 127.0% during the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after acquiring an additional 2,847 shares in the last quarter. Fractal Investments LLC purchased a new position in shares of GE Vernova during the third quarter valued at approximately $1,530,000. Finally, Legal & General Group Plc purchased a new position in shares of GE Vernova during the second quarter valued at approximately $293,699,000.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GEV. Citigroup boosted their price objective on shares of GE Vernova from $292.00 to $361.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. Wells Fargo & Company boosted their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Wolfe Research assumed coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price for the company. TD Cowen assumed coverage on shares of GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 target price for the company. Finally, Truist Financial boosted their target price on shares of GE Vernova from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Seven 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $326.85.

GE Vernova Stock Up 3.8 %

Shares of GE Vernova stock opened at $416.68 on Wednesday. The company has a fifty day moving average of $345.63 and a 200 day moving average of $266.62. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $417.21.

GE Vernova declared that its board has approved a stock repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend is Friday, December 20th.

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.