ST Germain D J Co. Inc. Grows Stake in GE Vernova Inc. (NYSE:GEV)

ST Germain D J Co. Inc. increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 20.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,391 shares of the company’s stock after purchasing an additional 412 shares during the quarter. ST Germain D J Co. Inc.’s holdings in GE Vernova were worth $787,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GEV. Mountaineer Partners Management LLC purchased a new stake in shares of GE Vernova during the third quarter worth about $2,507,296,000. Newport Trust Company LLC bought a new position in GE Vernova during the second quarter valued at approximately $650,140,000. Marshall Wace LLP bought a new position in GE Vernova during the second quarter valued at approximately $399,770,000. Legal & General Group Plc bought a new position in GE Vernova during the second quarter valued at approximately $293,699,000. Finally, Electron Capital Partners LLC boosted its stake in GE Vernova by 1,641.3% during the second quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock valued at $290,589,000 after buying an additional 1,596,996 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. BMO Capital Markets increased their price target on GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Bank of America increased their price target on GE Vernova from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Raymond James lowered GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Barclays increased their price target on GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Hsbc Global Res lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $314.35.

GE Vernova Trading Up 0.3 %

GEV opened at $367.53 on Friday. The business’s 50-day simple moving average is $338.55 and its 200-day simple moving average is $256.41. GE Vernova Inc. has a one year low of $115.00 and a one year high of $376.30.

GE Vernova Announces Dividend

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

GE Vernova declared that its Board of Directors has initiated a stock buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.