TCW Group Inc. Sells 38,094 Shares of GE Vernova Inc. (NYSE:GEV)

TCW Group Inc. lowered its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 19.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 154,593 shares of the company's stock after selling 38,094 shares during the period. TCW Group Inc. owned approximately 0.06% of GE Vernova worth $39,418,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GEV. Deseret Mutual Benefit Administrators purchased a new stake in GE Vernova in the second quarter worth approximately $25,000. Trifecta Capital Advisors LLC purchased a new position in shares of GE Vernova in the 2nd quarter worth $25,000. Meeder Asset Management Inc. bought a new stake in shares of GE Vernova in the second quarter worth $25,000. Timber Creek Capital Management LLC purchased a new stake in GE Vernova during the second quarter valued at $27,000. Finally, Gradient Investments LLC bought a new position in GE Vernova in the second quarter valued at about $27,000.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GEV shares. Royal Bank of Canada restated an "outperform" rating and set a $376.00 price target on shares of GE Vernova in a research note on Wednesday. Jefferies Financial Group boosted their target price on shares of GE Vernova from $293.00 to $336.00 and gave the company a "buy" rating in a research report on Friday, October 18th. JPMorgan Chase & Co. increased their price target on shares of GE Vernova from $356.00 to $367.00 and gave the stock an "overweight" rating in a research report on Wednesday. Evercore ISI lifted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Guggenheim reduced their price objective on GE Vernova from $400.00 to $380.00 and set a "buy" rating for the company in a research note on Wednesday. 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 company. According to data from MarketBeat, GE Vernova presently has a consensus rating of "Moderate Buy" and an average price target of $307.15.

GE Vernova Trading Up 5.0 %

Shares of GE Vernova stock traded up $16.49 during trading on Wednesday, reaching $343.88. 6,668,676 shares of the stock traded hands, compared to its average volume of 3,452,027. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $357.09. The business has a fifty day simple moving average of $307.87 and a two-hundred day simple moving average of $229.90.

GE Vernova declared that its board has authorized a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its stock is undervalued.

GE Vernova Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend 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.