M&T Bank Corp Has $12.84 Million Stock Holdings in GE Vernova Inc. (NYSE:GEV)

M&T Bank Corp lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 4.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,352 shares of the company’s stock after selling 2,354 shares during the quarter. M&T Bank Corp’s holdings in GE Vernova were worth $12,839,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Pittenger & Anderson Inc. grew its position in shares of GE Vernova by 28.0% during the 3rd quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock worth $41,000 after purchasing an additional 35 shares in the last quarter. SteelPeak Wealth LLC lifted its position in GE Vernova by 2.5% during the third quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company’s stock worth $400,000 after purchasing 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 valued at $1,149,000 after buying an additional 40 shares in the last quarter. Whittier Trust Co. increased its stake in GE Vernova by 1.9% in the third quarter. Whittier Trust Co. now owns 2,106 shares of the company’s stock valued at $537,000 after acquiring an additional 40 shares during the last quarter. Finally, Dunhill Financial LLC increased its stake in shares of GE Vernova by 21.6% in the 3rd quarter. Dunhill Financial LLC now owns 225 shares of the company’s stock valued at $57,000 after purchasing an additional 40 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GEV. Jefferies Financial Group lifted their target price on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $376.00 price target on shares of GE Vernova in a report on Wednesday, December 11th. Citigroup upped their target price on GE Vernova from $292.00 to $361.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. Evercore ISI raised their price objective 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. Finally, The Goldman Sachs Group upped their price target on shares of GE Vernova from $324.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $314.35.

GE Vernova Trading Up 3.0 %

Shares of GEV stock opened at $342.66 on Friday. The business’s 50 day moving average price is $319.21 and its 200-day moving average price is $238.41. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $357.09.

GE Vernova announced that its board has approved a stock repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.29%.

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.