Fulton Bank N.A. Takes $407,000 Position in GE Vernova Inc. (NYSE:GEV)

Fulton Bank N.A. acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,238 shares of the company’s stock, valued at approximately $407,000.

A number of other large investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in GE Vernova during the second quarter worth approximately $25,000. Spectrum Wealth Counsel LLC purchased a new stake in shares of GE Vernova during the 2nd quarter worth approximately $27,000. Castleview Partners LLC acquired a new position in shares of GE Vernova in the 3rd quarter valued at $28,000. Pathway Financial Advisers LLC purchased a new position in shares of GE Vernova in the 2nd quarter valued at $29,000. Finally, Glass Jacobson Investment Advisors llc acquired a new stake in GE Vernova during the 2nd quarter worth $30,000.

GE Vernova Stock Performance

Shares of GEV opened at $367.53 on Friday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $376.30. The firm’s 50-day moving average is $338.55 and its two-hundred day moving average is $256.41.

GE Vernova Announces Dividend

The company 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date is Friday, December 20th.

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

Analysts Set New Price Targets

GEV has been the subject of several research analyst reports. Jefferies Financial Group upped their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. TD Cowen assumed coverage on GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price for the company. BMO Capital Markets lifted their price target on GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective for the company. Finally, HSBC reaffirmed a “hold” rating and issued a $255.00 target price (up from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $314.35.

GE Vernova 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.