714 Shares in GE Vernova Inc. (NYSE:GEV) Bought by Essex Savings Bank

Essex Savings Bank bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 714 shares of the company's stock, valued at approximately $235,000.

Several other large investors also recently made changes to their positions in the business. HCR Wealth Advisors bought a new stake in shares of GE Vernova in the 4th quarter worth approximately $262,000. Armstrong Advisory Group Inc. lifted 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 during the last quarter. Wolff Wiese Magana LLC boosted its stake in shares of GE Vernova by 90.2% during the 4th quarter. Wolff Wiese Magana LLC now owns 194 shares of the company's stock worth $64,000 after acquiring an additional 92 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of GE Vernova by 62.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 347 shares of the company's stock worth $114,000 after acquiring an additional 134 shares during the last quarter. Finally, Park Avenue Securities LLC raised its position in shares of GE Vernova by 9.2% during the fourth quarter. Park Avenue Securities LLC now owns 8,744 shares of the company's stock worth $2,876,000 after purchasing an additional 735 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GEV shares. Oppenheimer initiated coverage on GE Vernova in a research report on Thursday, September 26th. They issued a "market perform" rating for the company. JPMorgan Chase & Co. boosted their price target on shares of GE Vernova from $367.00 to $374.00 and gave the company an "overweight" rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova in a research report on Monday, October 21st. They set a "buy" rating and a $354.00 price objective on the stock. Morgan Stanley raised their target price on GE Vernova from $301.00 to $367.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Finally, Citigroup lifted their price target on GE Vernova from $292.00 to $361.00 and gave the company a "neutral" rating in a report on Monday, December 9th. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $321.35.

GE Vernova Price Performance

Shares of NYSE GEV traded up $10.84 during trading hours on Friday, hitting $401.84. 2,295,633 shares of the stock were exchanged, compared to its average volume of 2,689,001. GE Vernova Inc. has a one year low of $115.00 and a one year high of $404.13. The company's 50 day moving average is $343.37 and its 200 day moving average is $262.08.

GE Vernova declared that its board has authorized a stock repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

GE Vernova Announces Dividend

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

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.