GE Vernova Inc. (NYSE:GEV) Stock Position Trimmed by Resources Management Corp CT ADV

Resources Management Corp CT ADV lowered its holdings in GE Vernova Inc. (NYSE:GEV) by 24.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 459 shares of the company’s stock after selling 152 shares during the period. Resources Management Corp CT ADV’s holdings in GE Vernova were worth $117,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in GEV. Deseret Mutual Benefit Administrators acquired a new stake in shares of GE Vernova during the second quarter worth approximately $25,000. Trifecta Capital Advisors LLC acquired a new stake in shares of GE Vernova during the second quarter worth approximately $25,000. Meeder Asset Management Inc. acquired a new stake in shares of GE Vernova during the second quarter worth approximately $25,000. Timber Creek Capital Management LLC acquired a new stake in shares of GE Vernova during the second quarter worth approximately $27,000. Finally, Gradient Investments LLC acquired a new stake in shares of GE Vernova during the second quarter worth approximately $27,000.

GE Vernova Price Performance

NYSE:GEV opened at $327.41 on Wednesday. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $357.09. The firm has a fifty day simple moving average of $306.45 and a 200 day simple moving average of $228.84.

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

GE Vernova Announces Dividend

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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.31%.

Analyst Ratings Changes

Several research firms recently commented on GEV. William Blair began coverage on shares of GE Vernova in a report on Thursday, August 29th. They set an “outperform” rating for the company. Morgan Stanley lifted their target price on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. TD Cowen began coverage on shares of GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective for the company. Finally, Citigroup boosted their target price on shares of GE Vernova from $292.00 to $361.00 and gave the stock a “neutral” rating in a research report on Monday. 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. Based on data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $304.73.

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.