ZWJ Investment Counsel Inc. Sells 1,346 Shares of GE Vernova Inc. (NYSE:GEV)

ZWJ Investment Counsel Inc. lowered its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 27.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,586 shares of the company's stock after selling 1,346 shares during the quarter. ZWJ Investment Counsel Inc.'s holdings in GE Vernova were worth $1,180,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Wolfe Research initiated coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They set an "outperform" rating and a $403.00 target price for the company. Evercore ISI lifted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. BMO Capital Markets increased their price objective on shares of GE Vernova from $360.00 to $420.00 in a report on Tuesday. Finally, Truist Financial lifted their target price on GE Vernova from $400.00 to $420.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, GE Vernova currently has a consensus rating of "Moderate Buy" and an average target price of $326.85.

GE Vernova Price Performance

GEV traded up $15.27 during trading hours on Tuesday, reaching $416.68. 4,205,878 shares of the company's stock traded hands, compared to its average volume of 2,843,960. The firm has a 50-day moving average price of $345.63 and a 200 day moving average price of $266.62. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $417.21.

GE Vernova Announces Dividend

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

GE Vernova declared that its Board of Directors has approved a share buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors 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.