GE Vernova Inc. (NYSE:GEV) Shares Bought by Tompkins Financial Corp

Tompkins Financial Corp lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 21.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,151 shares of the company’s stock after purchasing an additional 206 shares during the period. Tompkins Financial Corp’s holdings in GE Vernova were worth $379,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. FMR LLC boosted its holdings in GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after buying an additional 584,208 shares in the last quarter. State Street Corp boosted its stake in shares of GE Vernova by 1.1% during the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after acquiring an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC acquired a new stake in shares of GE Vernova in the 3rd quarter worth approximately $2,507,296,000. Geode Capital Management LLC increased its stake in GE Vernova by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after purchasing an additional 80,479 shares in the last quarter. Finally, Newport Trust Company LLC purchased a new position in GE Vernova in the 2nd quarter valued at approximately $650,140,000.

Analyst Ratings Changes

GEV has been the topic of a number of research analyst reports. Evercore ISI boosted their target price on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a research report on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective on the stock. Jefferies Financial Group raised their target price on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Citigroup lifted 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, December 9th. Finally, The Goldman Sachs Group increased their price target on shares of GE Vernova from $400.00 to $446.00 and gave the company a “buy” rating in a research report on Thursday. Seven equities research 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’s stock. Based on data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $321.35.

GE Vernova Stock Up 1.0 %

Shares of GEV stock opened at $390.86 on Friday. GE Vernova Inc. has a one year low of $115.00 and a one year high of $397.76. The company has a 50 day moving average price of $342.29 and a 200 day moving average price of $261.18.

GE Vernova Dividend Announcement

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 given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend is Friday, December 20th.

GE Vernova announced that its board has initiated a share buyback plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are 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.