Trust Co of Kansas Invests $245,000 in GE Vernova Inc. (NYSE:GEV)

Trust Co of Kansas purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 746 shares of the company's stock, valued at approximately $245,000.

Other large investors have also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. boosted its position 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 acquiring an additional 27 shares in 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 period. Pittenger & Anderson Inc. boosted its holdings in GE Vernova by 28.0% during the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company's stock valued at $41,000 after purchasing an additional 35 shares in the last quarter. Regent Peak Wealth Advisors LLC grew its stake in shares of GE Vernova by 3.8% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 966 shares of the company's stock valued at $318,000 after purchasing an additional 35 shares during the period. Finally, SteelPeak Wealth LLC raised its holdings in shares of GE Vernova by 2.5% in the 3rd quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company's stock worth $400,000 after buying an additional 38 shares in the last quarter.

GE Vernova Stock Performance

Shares of GEV stock traded up $10.84 during trading hours on Friday, reaching $401.84. The company had a trading volume of 2,360,990 shares, compared to its average volume of 2,430,212. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $404.13. The company has a 50 day moving average of $343.37 and a 200 day moving average of $262.08.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.25%. The ex-dividend date is Friday, December 20th.

GE Vernova declared that its board has initiated a stock buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Truist Financial boosted their price target on GE Vernova from $400.00 to $420.00 and gave the company a "buy" rating in a research note on Thursday. William Blair reaffirmed an "outperform" rating on shares of GE Vernova in a report on Wednesday, December 11th. Evercore ISI increased their target price on shares of GE Vernova from $385.00 to $390.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Royal Bank of Canada restated an "outperform" rating and issued a $376.00 price target on shares of GE Vernova in a research report on Wednesday, December 11th. Finally, TD Cowen began coverage on shares of GE Vernova in a report on Thursday, December 5th. They set a "buy" rating and a $400.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $321.35.

GE Vernova 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.