Mitchell Mcleod Pugh & Williams Inc. Acquires 47 Shares of GE Vernova Inc. (NYSE:GEV)

Mitchell Mcleod Pugh & Williams Inc. boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 3.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,600 shares of the company’s stock after buying an additional 47 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in GE Vernova were worth $526,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Castleview Partners LLC purchased a new stake in GE Vernova in the third quarter valued at approximately $28,000. Pathway Financial Advisers LLC purchased a new position in shares of GE Vernova in the 2nd quarter valued at about $29,000. Covestor Ltd raised its stake in shares of GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares during the period. Darwin Wealth Management LLC acquired a new position in GE Vernova during the third quarter worth $31,000. Finally, Prestige Wealth Management Group LLC lifted its stake in GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 77 shares in the last quarter.

GE Vernova Stock Up 2.8 %

GEV stock opened at $401.84 on Tuesday. The firm’s 50-day simple moving average is $344.59 and its 200 day simple moving average is $265.01. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $404.13.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be issued 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 dividend yield of 0.25%.

GE Vernova announced that its board has approved a stock repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

GEV has been the topic of several research reports. Hsbc Global Res downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Raymond James cut GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Morgan Stanley boosted their price objective on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Oppenheimer initiated coverage on shares of GE Vernova in a research report on Thursday, September 26th. They set a “market perform” rating for the company. Finally, Jefferies Financial Group boosted their price objective on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $321.35.

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.