Park National Corp OH Sells 171 Shares of GE Vernova Inc. (NYSE:GEV)

Park National Corp OH lowered its stake in GE Vernova Inc. (NYSE:GEV) by 8.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,961 shares of the company’s stock after selling 171 shares during the period. Park National Corp OH’s holdings in GE Vernova were worth $645,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GEV. Pittenger & Anderson Inc. boosted its stake in shares of GE Vernova by 28.0% during the 3rd quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock valued at $41,000 after purchasing an additional 35 shares in the last quarter. Regent Peak Wealth Advisors LLC boosted its position in GE Vernova by 3.8% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 966 shares of the company’s stock valued at $318,000 after acquiring an additional 35 shares in the last quarter. SteelPeak Wealth LLC grew its holdings in shares of GE Vernova by 2.5% during the 3rd quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company’s stock worth $400,000 after acquiring an additional 38 shares during the period. Global Retirement Partners LLC raised its position in shares of GE Vernova by 0.9% in the 3rd quarter. Global Retirement Partners LLC now owns 4,507 shares of the company’s stock worth $1,149,000 after acquiring an additional 40 shares in the last quarter. Finally, Whittier Trust Co. lifted its stake in shares of GE Vernova by 1.9% in the 3rd quarter. Whittier Trust Co. now owns 2,106 shares of the company’s stock valued at $537,000 after purchasing an additional 40 shares during the period.

GE Vernova Price Performance

GEV stock opened at $366.30 on Thursday. The business’s 50-day moving average is $335.93 and its two-hundred day moving average is $254.32. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $376.30.

GE Vernova announced that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

GE Vernova Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GEV shares. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 11th. Evercore ISI increased 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, December 11th. Barclays boosted their price objective on shares of GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. lifted their target price on shares of GE Vernova from $356.00 to $367.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Oppenheimer assumed coverage on GE Vernova in a research note on Thursday, September 26th. They issued a “market perform” rating on the stock. 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $314.35.

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.