CHURCHILL MANAGEMENT Corp Reduces Position in GE Vernova Inc. (NYSE:GEV)

CHURCHILL MANAGEMENT Corp lowered its holdings in GE Vernova Inc. (NYSE:GEV) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,833 shares of the company’s stock after selling 522 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in GE Vernova were worth $7,839,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Castleview Partners LLC acquired a new stake in shares of GE Vernova during the third quarter worth approximately $28,000. Covestor Ltd grew its holdings in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in GE Vernova during the 3rd quarter worth $31,000. Prestige Wealth Management Group LLC increased its position in shares of GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares during the last quarter. Finally, Planning Capital Management Corp lifted its position in shares of GE Vernova by 1,000.0% during the third quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock worth $36,000 after purchasing an additional 130 shares during the last quarter.

GE Vernova Stock Up 1.1 %

Shares of NYSE GEV opened at $386.40 on Thursday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $392.77. The stock has a fifty day moving average price of $341.28 and a two-hundred day moving average price of $260.29.

GE Vernova announced that its Board of Directors has authorized a share buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Investors 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 0.26%. The ex-dividend date is Friday, December 20th.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GEV shares. Morgan Stanley boosted their price objective on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Jefferies Financial Group boosted their price target on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Raymond James cut GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Oppenheimer started coverage on shares of GE Vernova in a research note on Thursday, September 26th. They set a “market perform” rating for the company. Finally, JPMorgan Chase & Co. raised their price target on shares of GE Vernova from $367.00 to $374.00 and gave the stock an “overweight” rating in a research report on Tuesday. Seven 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 stock. Based on data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $318.60.

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.