GE Vernova Inc. (NYSE:GEV) Shares Sold by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. cut its stake in shares of GE Vernova Inc. (NYSE:GEV) by 27.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,586 shares of the company’s stock after selling 1,346 shares during the period. ZWJ Investment Counsel Inc.’s holdings in GE Vernova were worth $1,180,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GEV. FMR LLC boosted its stake in GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after purchasing an additional 584,208 shares during the period. State Street Corp increased its holdings in shares of GE Vernova by 1.1% in the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after purchasing an additional 118,184 shares during the period. Mountaineer Partners Management LLC purchased a new stake in shares of GE Vernova in the third quarter worth approximately $2,507,296,000. Geode Capital Management LLC lifted its position in shares of GE Vernova by 1.5% in the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after purchasing an additional 80,479 shares in the last quarter. Finally, WCM Investment Management LLC boosted its holdings in shares of GE Vernova by 83.1% during the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after purchasing an additional 1,161,901 shares during the period.

GE Vernova Stock Up 2.8 %

GEV opened at $401.84 on Tuesday. The stock’s 50 day moving average price is $344.59 and its two-hundred day moving average price is $265.01. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $404.13.

GE Vernova Announces Dividend

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

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Barclays upped their price objective on shares of GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Evercore ISI upped 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. Hsbc Global Res cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. Citigroup boosted their target price on GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Finally, The Goldman Sachs Group raised their price target on GE Vernova from $400.00 to $446.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $321.35.

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.