Union Savings Bank Has $61,000 Stock Position in GE Vernova Inc. (NYSE:GEV)

Union Savings Bank lessened its position in shares of GE Vernova Inc. (NYSE:GEV) by 17.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 185 shares of the company’s stock after selling 38 shares during the quarter. Union Savings Bank’s holdings in GE Vernova were worth $61,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Mountaineer Partners Management LLC bought a new stake in GE Vernova during the 3rd quarter worth about $2,507,296,000. Marshall Wace LLP acquired a new stake in shares of GE Vernova during the 2nd quarter worth approximately $399,770,000. Legal & General Group Plc bought a new stake in shares of GE Vernova during the second quarter worth approximately $293,699,000. Electron Capital Partners LLC lifted its holdings in GE Vernova by 1,641.3% in the second quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock valued at $290,589,000 after buying an additional 1,596,996 shares during the period. Finally, Lone Pine Capital LLC bought a new position in GE Vernova in the second quarter valued at approximately $253,322,000.

GE Vernova Stock Performance

NYSE GEV opened at $401.84 on Monday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $404.13. The stock’s 50 day moving average price is $344.59 and its two-hundred day moving average price is $264.36.

GE Vernova announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

GE Vernova Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on GEV shares. Citigroup increased their price target on GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Oppenheimer initiated coverage on GE Vernova in a research note on Thursday, September 26th. They issued a “market perform” rating on the stock. Guggenheim decreased their target price on GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $376.00 price target on shares of GE Vernova in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $367.00 to $374.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price 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.