GE Vernova Inc. (NYSE:GEV) is Segment Wealth Management LLC's 8th Largest Position

Segment Wealth Management LLC trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,491 shares of the company's stock after selling 1,051 shares during the quarter. GE Vernova accounts for about 1.6% of Segment Wealth Management LLC's portfolio, making the stock its 8th largest position. Segment Wealth Management LLC's holdings in GE Vernova were worth $23,516,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. acquired a new stake in GE Vernova in the 2nd quarter worth approximately $4,940,000. XTX Topco Ltd acquired a new stake in shares of GE Vernova during the second quarter worth $383,000. Intech Investment Management LLC purchased a new stake in shares of GE Vernova during the second quarter valued at $970,000. Brighton Jones LLC acquired a new position in shares of GE Vernova in the 2nd quarter valued at $361,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in GE Vernova in the 2nd quarter worth $368,000.

GE Vernova Stock Performance

NYSE:GEV traded up $12.77 during trading hours on Tuesday, reaching $414.18. 1,946,858 shares of the company were exchanged, compared to its average volume of 2,644,971. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $412.79. The stock's 50-day moving average is $345.63 and its 200-day moving average is $266.62.

GE Vernova announced that its board has initiated a stock buyback program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase 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 stock is undervalued.

GE Vernova Announces Dividend

The business also recently declared 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 of this dividend is Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.24%.

Wall Street Analyst Weigh In

Several research firms have weighed in on GEV. Morgan Stanley boosted their price target on GE Vernova from $301.00 to $367.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Evercore ISI upped their target price on GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. TD Cowen started coverage on shares of GE Vernova in a report on Thursday, December 5th. They issued a "buy" rating and a $400.00 price target on the stock. Wells Fargo & Company lifted their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Finally, BMO Capital Markets increased their price objective on shares of GE Vernova from $245.00 to $288.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Seven analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.