GE Vernova Inc. (NYSE:GEV) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI increased its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 17.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,749 shares of the company's stock after purchasing an additional 1,559 shares during the quarter. National Bank of Canada FI's holdings in GE Vernova were worth $2,741,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. FMR LLC raised its holdings in shares of GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company's stock valued at $6,131,677,000 after purchasing an additional 584,208 shares during the last quarter. State Street Corp raised its position in shares of GE Vernova by 1.1% in the third quarter. State Street Corp now owns 10,434,917 shares of the company's stock worth $2,660,695,000 after buying an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC bought a new position in shares of GE Vernova during the 3rd quarter valued at about $2,507,296,000. Newport Trust Company LLC bought a new stake in shares of GE Vernova in the 2nd quarter valued at about $650,140,000. Finally, Bank of New York Mellon Corp bought a new stake in GE Vernova in the 2nd quarter worth $537,674,000.

Analyst Ratings Changes

A number of equities analysts have issued reports on GEV shares. HSBC reiterated a "hold" rating and issued a $255.00 price objective (up previously from $240.00) on shares of GE Vernova in a report on Friday, October 4th. William Blair restated an "outperform" rating on shares of GE Vernova in a research note on Wednesday. Jefferies Financial Group increased their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the company a "buy" rating in a report on Friday. Barclays upped their price target on shares of GE Vernova from $320.00 to $420.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. Finally, Evercore ISI increased their price target on GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a report on Wednesday. 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $314.35.

GE Vernova Price Performance

Shares of NYSE GEV traded up $2.10 during trading on Friday, reaching $332.01. The stock had a trading volume of 2,972,926 shares, compared to its average volume of 3,450,213. GE Vernova Inc. has a one year low of $115.00 and a one year high of $357.09. The firm's 50 day moving average price is $312.53 and its two-hundred day moving average price is $232.46.

GE Vernova Announces Dividend

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 given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.30%. The ex-dividend date is Friday, December 20th.

GE Vernova declared that its Board of Directors has approved a share repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

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.