Union Savings Bank Sells 38 Shares of GE Vernova Inc. (NYSE:GEV)

Union Savings Bank lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 17.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 185 shares of the company’s stock after selling 38 shares during the period. Union Savings Bank’s holdings in GE Vernova were worth $61,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Castleview Partners LLC acquired a new position in shares of GE Vernova during the third quarter worth approximately $28,000. Pathway Financial Advisers LLC bought a new position in GE Vernova during the second quarter worth $29,000. Covestor Ltd raised its stake in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in GE Vernova during the 3rd quarter valued at $31,000. Finally, Prestige Wealth Management Group LLC boosted its holdings in GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 77 shares during the period.

GE Vernova Stock Performance

Shares of GEV stock opened at $401.84 on Monday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $404.13. The stock’s fifty day moving average is $344.59 and its 200-day moving average is $264.36.

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

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be issued 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.

Analyst Upgrades and Downgrades

GEV has been the topic of several research reports. Oppenheimer initiated coverage on shares of GE Vernova in a report on Thursday, September 26th. They set a “market perform” rating on the stock. The Goldman Sachs Group boosted their price target on GE Vernova from $400.00 to $446.00 and gave the company a “buy” rating in a research note on Thursday. Jefferies Financial Group raised their price objective on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Citigroup boosted their price objective on GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a research report on Monday, December 9th. Finally, TD Cowen assumed coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price for the company. 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 MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average price target 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.