Douglas Lane & Associates LLC Has $8.18 Million Stock Position in GE Vernova Inc. (NYSE:GEV)

Douglas Lane & Associates LLC cut its holdings in GE Vernova Inc. (NYSE:GEV) by 49.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,867 shares of the company’s stock after selling 24,082 shares during the quarter. Douglas Lane & Associates LLC’s holdings in GE Vernova were worth $8,179,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Waverton Investment Management Ltd grew its holdings 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 valued at $185,459,000 after purchasing an additional 66,455 shares during the last quarter. Hanlon Investment Management Inc. acquired a new stake in GE Vernova in the third quarter valued at approximately $1,101,000. Atria Investments Inc grew its stake in shares of GE Vernova by 127.0% during the third 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 during the last quarter. Fractal Investments LLC acquired a new position in shares of GE Vernova during the third quarter worth $1,530,000. Finally, Legal & General Group Plc bought a new position in shares of GE Vernova in the 2nd quarter valued at $293,699,000.

GE Vernova Price Performance

Shares of NYSE GEV opened at $366.30 on Thursday. The company’s fifty day simple moving average is $335.93 and its 200 day simple moving average is $254.32. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $376.30.

GE Vernova announced that its Board of Directors has approved a share repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

GE Vernova Dividend Announcement

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

Wall Street Analyst Weigh In

GEV has been the topic of a number of research reports. Barclays boosted their price objective on GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Raymond James downgraded GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Citigroup lifted their target price on shares of GE Vernova from $292.00 to $361.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $356.00 to $367.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Morgan Stanley lifted their price target on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Seven equities research 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $314.35.

GE Vernova Company 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.