Neville Rodie & Shaw Inc. Sells 70 Shares of GE Vernova Inc. (NYSE:GEV)

Neville Rodie & Shaw Inc. decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,378 shares of the company’s stock after selling 70 shares during the period. Neville Rodie & Shaw Inc.’s holdings in GE Vernova were worth $6,045,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Foundations Investment Advisors LLC bought a new position in shares of GE Vernova in the 2nd quarter worth approximately $384,000. TD Asset Management Inc bought a new position in shares of GE Vernova in the 2nd quarter worth approximately $26,098,000. National Bank of Canada FI raised its position in shares of GE Vernova by 52.3% in the 2nd quarter. National Bank of Canada FI now owns 9,190 shares of the company’s stock worth $1,538,000 after acquiring an additional 3,155 shares in the last quarter. Victory Capital Management Inc. bought a new position in GE Vernova during the 2nd quarter valued at approximately $15,866,000. Finally, New York Life Investment Management LLC bought a new position in GE Vernova during the 2nd quarter valued at approximately $6,454,000.

Analysts Set New Price Targets

GEV has been the subject of a number of analyst reports. TD Cowen initiated coverage on GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a research note on Monday, October 21st. They set a “buy” rating and a $354.00 target price on the stock. Wells Fargo & Company increased their target price on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Oppenheimer started coverage on GE Vernova in a research note on Thursday, September 26th. They set a “market perform” rating on the stock. Finally, Wolfe Research started coverage on GE Vernova in a research note on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.35.

GE Vernova Stock Up 4.2 %

Shares of NYSE:GEV traded up $14.79 during trading hours on Monday, hitting $368.82. 1,910,592 shares of the company’s stock traded hands, compared to its average volume of 2,228,525. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $376.30. The business has a fifty day moving average price of $331.58 and a 200-day moving average price of $250.83.

GE Vernova declared that its Board of Directors has initiated a stock repurchase program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be paid a $0.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.27%.

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.