Exchange Bank Takes $240,000 Position in GE Vernova Inc. (NYSE:GEV)

Exchange Bank acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 731 shares of the company's stock, valued at approximately $240,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Armstrong Advisory Group Inc. boosted its stake in shares of GE Vernova by 3.5% during the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company's stock valued at $262,000 after buying an additional 27 shares during the last quarter. AdvisorNet Financial Inc lifted its stake in GE Vernova by 1.6% during the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company's stock worth $611,000 after purchasing an additional 30 shares during the last quarter. Pittenger & Anderson Inc. lifted its stake in GE Vernova by 28.0% during the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company's stock worth $41,000 after purchasing an additional 35 shares during the last quarter. Regent Peak Wealth Advisors LLC lifted its stake in GE Vernova by 3.8% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 966 shares of the company's stock worth $318,000 after purchasing an additional 35 shares during the last quarter. Finally, SteelPeak Wealth LLC lifted its stake in GE Vernova by 2.5% during the third quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company's stock worth $400,000 after purchasing an additional 38 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. HSBC restated a "hold" rating and set a $255.00 price objective (up from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. The Goldman Sachs Group raised their target price on GE Vernova from $400.00 to $446.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Wells Fargo & Company raised their target price on GE Vernova from $385.00 to $411.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft initiated coverage on GE Vernova in a research note on Monday, October 21st. They issued a "buy" rating and a $354.00 target price on the stock. Finally, William Blair reiterated an "outperform" rating on shares of GE Vernova in a research note on Wednesday, December 11th. Seven 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, the company has an average rating of "Moderate Buy" and an average price target of $326.85.

GE Vernova Trading Up 3.8 %

NYSE GEV traded up $15.27 during trading on Tuesday, reaching $416.68. 4,199,286 shares of the company's stock were exchanged, compared to its average volume of 2,841,609. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $417.21. The company's fifty day simple moving average is $345.63 and its 200-day simple moving average is $266.62.

GE Vernova announced that its Board of Directors has approved a share buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be given a dividend of $0.25 per share. 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 0.24%.

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.