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

Ballentine Partners LLC raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 3.1% in the 4th quarter, Holdings Channel reports. The firm owned 5,090 shares of the company’s stock after acquiring an additional 152 shares during the period. Ballentine Partners LLC’s holdings in GE Vernova were worth $1,674,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in GEV. American Century Companies Inc. purchased a new stake in shares of GE Vernova during the 2nd quarter valued at about $4,940,000. XTX Topco Ltd purchased a new stake in shares of GE Vernova during the 2nd quarter valued at about $383,000. Intech Investment Management LLC purchased a new stake in shares of GE Vernova during the 2nd quarter valued at about $970,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of GE Vernova during the 2nd quarter valued at about $368,000. Finally, AE Wealth Management LLC purchased a new stake in shares of GE Vernova during the 2nd quarter valued at about $1,637,000.

Analyst Ratings Changes

A number of research firms recently weighed in on GEV. JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $367.00 to $374.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 14th. Wells Fargo & Company increased their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Raymond James lowered shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Wolfe Research began coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective on the stock. Finally, Morgan Stanley increased their price objective on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $326.85.

GE Vernova Stock Performance

Shares of GEV opened at $416.68 on Wednesday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $417.21. The company has a 50 day moving average of $345.63 and a two-hundred day moving average of $266.62.

GE Vernova Dividend Announcement

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

GE Vernova declared that its board has initiated a share buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes 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 management believes its stock is undervalued.

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.