Diversified Trust Co Buys 5,768 Shares of GE Vernova Inc. (NYSE:GEV)

Diversified Trust Co grew its stake in GE Vernova Inc. (NYSE:GEV) by 61.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,079 shares of the company’s stock after purchasing an additional 5,768 shares during the quarter. Diversified Trust Co’s holdings in GE Vernova were worth $4,960,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GEV. National Bank of Canada FI lifted its stake in GE Vernova by 52.3% during the 2nd quarter. National Bank of Canada FI now owns 9,190 shares of the company’s stock valued at $1,538,000 after acquiring an additional 3,155 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of GE Vernova in the second quarter valued at about $15,866,000. New York Life Investment Management LLC bought a new position in shares of GE Vernova during the second quarter valued at about $6,454,000. Private Advisor Group LLC purchased a new position in GE Vernova during the second quarter worth about $3,184,000. Finally, Candriam S.C.A. bought a new stake in GE Vernova in the 2nd quarter worth about $565,000.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Truist Financial lifted their target price on shares of GE Vernova from $325.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group lifted their price target on GE Vernova from $324.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Morgan Stanley boosted their price objective on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. raised their target price on GE Vernova from $356.00 to $367.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, Oppenheimer assumed coverage on shares of GE Vernova in a report on Thursday, September 26th. They issued a “market perform” rating on the stock. Seven research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.35.

GE Vernova Stock Performance

NYSE GEV traded down $2.45 on Tuesday, hitting $368.87. The stock had a trading volume of 946,173 shares, compared to its average volume of 2,284,209. The firm has a 50-day moving average of $333.20 and a 200-day moving average of $252.19. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $376.30.

GE Vernova Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%.

GE Vernova declared that its board has approved a stock buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are 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.