Segment Wealth Management LLC Has $23.52 Million Position in GE Vernova Inc. (NYSE:GEV)

Segment Wealth Management LLC reduced its position in GE Vernova Inc. (NYSE:GEV) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,491 shares of the company’s stock after selling 1,051 shares during the quarter. GE Vernova comprises about 1.6% of Segment Wealth Management LLC’s portfolio, making the stock its 8th largest position. Segment Wealth Management LLC’s holdings in GE Vernova were worth $23,516,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Perpetual Ltd grew its position in GE Vernova by 378.6% during the 4th quarter. Perpetual Ltd now owns 4,102 shares of the company’s stock worth $1,349,000 after acquiring an additional 3,245 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of GE Vernova by 6.0% during the fourth quarter. Crossmark Global Holdings Inc. now owns 12,299 shares of the company’s stock valued at $4,046,000 after purchasing an additional 695 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of GE Vernova by 3.1% during the fourth quarter. Ballentine Partners LLC now owns 5,090 shares of the company’s stock worth $1,674,000 after purchasing an additional 152 shares during the last quarter. Regent Peak Wealth Advisors LLC increased its stake in shares of GE Vernova by 3.8% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 966 shares of the company’s stock valued at $318,000 after buying an additional 35 shares during the period. Finally, Bonness Enterprises Inc. bought a new position in GE Vernova in the 4th quarter valued at approximately $204,000.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $401.84 on Tuesday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $404.13. The business has a 50 day moving average price of $344.59 and a 200-day moving average price of $265.01.

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

GE Vernova Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Friday, December 20th.

Analysts Set New Price Targets

GEV has been the subject of several analyst reports. Citigroup raised their price target on shares of GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Hsbc Global Res downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. JPMorgan Chase & Co. increased their price target on GE Vernova from $367.00 to $374.00 and gave the company an “overweight” rating in a research note on Tuesday, January 14th. HSBC reaffirmed a “hold” rating and issued a $255.00 price objective (up from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Finally, TD Cowen started coverage on shares of GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price for the company. Seven investment 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.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus 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.