Teachers Retirement System of The State of Kentucky cut its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 5.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 55,451 shares of the company's stock after selling 3,013 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in GE Vernova were worth $14,139,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Waverton Investment Management Ltd raised its position in shares of GE Vernova by 10.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company's stock worth $185,459,000 after buying an additional 66,455 shares in the last quarter. Hanlon Investment Management Inc. bought a new stake in shares of GE Vernova during the 3rd quarter worth about $1,101,000. Atria Investments Inc raised its position in shares of GE Vernova by 127.0% during the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company's stock worth $1,297,000 after buying an additional 2,847 shares in the last quarter. Fractal Investments LLC bought a new stake in shares of GE Vernova during the 3rd quarter worth about $1,530,000. Finally, Legal & General Group Plc bought a new stake in shares of GE Vernova during the 2nd quarter worth about $293,699,000.
GE Vernova Stock Performance
Shares of GEV stock traded down $13.89 during trading on Thursday, hitting $329.91. 2,939,790 shares of the company were exchanged, compared to its average volume of 3,452,816. The business's 50-day simple moving average is $309.70 and its 200 day simple moving average is $230.69. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $357.09.
GE Vernova Dividend Announcement
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 issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Friday, December 20th.
GE Vernova announced that its board has approved a stock repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of analysts have commented on GEV shares. JPMorgan Chase & Co. boosted 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. Royal Bank of Canada restated an "outperform" rating and set a $376.00 price target on shares of GE Vernova in a research report on Wednesday. Citigroup lifted their price objective on shares of GE Vernova from $292.00 to $361.00 and gave the stock a "neutral" rating in a research note on Monday. Oppenheimer initiated coverage on shares of GE Vernova in a research note on Thursday, September 26th. They issued a "market perform" rating on the stock. Finally, Wolfe Research initiated coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $403.00 price objective on the stock. Seven 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $310.98.
Read Our Latest Stock Report on GEV
GE Vernova Company Profile
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Free Report)
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.
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