Mechanics Bank Trust Department Takes $402,000 Position in GE Vernova Inc. (NYSE:GEV)

Mechanics Bank Trust Department bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,221 shares of the company's stock, valued at approximately $402,000.

Several other institutional investors have also recently made changes to their positions in GEV. Castleview Partners LLC purchased a new position in shares of GE Vernova during the 3rd quarter valued at approximately $28,000. Covestor Ltd lifted its position in GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company's stock worth $31,000 after buying an additional 46 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of GE Vernova during the 3rd quarter valued at about $31,000. Prestige Wealth Management Group LLC raised its stake in GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company's stock worth $31,000 after purchasing an additional 77 shares during the period. Finally, Planning Capital Management Corp boosted its holdings in GE Vernova by 1,000.0% in the 3rd quarter. Planning Capital Management Corp now owns 143 shares of the company's stock valued at $36,000 after purchasing an additional 130 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Jefferies Financial Group upped their price objective on GE Vernova from $348.00 to $391.00 and gave the company a "buy" rating in a report on Friday, December 13th. TD Cowen started coverage on shares of GE Vernova in a research note on Thursday, December 5th. They set a "buy" rating and a $400.00 target price on the stock. Evercore ISI lifted their price objective on GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. Raymond James lowered GE Vernova from an "outperform" rating to a "market perform" rating in a report on Wednesday, October 2nd. Finally, Barclays raised their price objective on shares of GE Vernova from $320.00 to $420.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Seven investment 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $321.35.

GE Vernova Trading Up 2.7 %

Shares of NYSE GEV traded up $10.81 during midday trading on Tuesday, hitting $412.22. The company's stock had a trading volume of 1,766,259 shares, compared to its average volume of 2,630,762. The firm's fifty day moving average price is $345.63 and its 200-day moving average price is $266.62. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $410.20.

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

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.24%.

About GE Vernova

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.