GE Vernova Inc. (NYSE:GEV) Stock Position Lessened by CHICAGO TRUST Co NA

CHICAGO TRUST Co NA trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 7.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,455 shares of the company’s stock after selling 198 shares during the quarter. CHICAGO TRUST Co NA’s holdings in GE Vernova were worth $808,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Waverton Investment Management Ltd increased its stake 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 buying an additional 66,455 shares during the period. Hanlon Investment Management Inc. acquired a new position in shares of GE Vernova during the third quarter valued at approximately $1,101,000. Atria Investments Inc raised its holdings in GE Vernova by 127.0% during the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after purchasing an additional 2,847 shares in the last quarter. Fractal Investments LLC acquired a new stake in GE Vernova in the third quarter worth approximately $1,530,000. Finally, Legal & General Group Plc bought a new position in GE Vernova during the 2nd quarter valued at $293,699,000.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of research reports. BMO Capital Markets boosted their price objective on GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Citigroup upped their price target on shares of GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a report on Monday, December 9th. Wells Fargo & Company raised their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Morgan Stanley boosted their target price on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Oppenheimer assumed coverage on shares of GE Vernova in a report on Thursday, September 26th. They set a “market perform” rating for the company. Seven equities 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 company. Based on data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $314.35.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $366.14 on Tuesday. GE Vernova Inc. has a one year low of $115.00 and a one year high of $376.30. The business’s 50-day moving average price is $339.96 and its two-hundred day moving average price is $258.81.

GE Vernova announced that its board has approved a stock buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%.

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.