Douglas Lane & Associates LLC Has $8.18 Million Position in GE Vernova Inc. (NYSE:GEV)

Douglas Lane & Associates LLC decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 49.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 24,867 shares of the company’s stock after selling 24,082 shares during the period. Douglas Lane & Associates LLC’s holdings in GE Vernova were worth $8,179,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in GEV. FMR LLC increased its position in shares of GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after acquiring an additional 584,208 shares in the last quarter. State Street Corp boosted its stake in GE Vernova by 1.1% during 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 last quarter. Mountaineer Partners Management LLC bought a new stake in GE Vernova during the 3rd quarter worth approximately $2,507,296,000. Geode Capital Management LLC raised its stake 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 during the last quarter. Finally, Newport Trust Company LLC purchased a new stake in shares of GE Vernova in the second quarter worth approximately $650,140,000.

GE Vernova Stock Down 0.6 %

GEV opened at $366.30 on Thursday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $376.30. The company has a 50 day moving average of $335.93 and a 200 day moving average of $254.32.

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

GE Vernova Dividend Announcement

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

Analyst Ratings Changes

GEV has been the subject of several recent research reports. Truist Financial upped their price target on GE Vernova from $325.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Jefferies Financial Group increased their target price on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Bank of America boosted their price target on shares of GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. The Goldman Sachs Group increased their price objective on shares of GE Vernova from $324.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Guggenheim cut their target price on GE Vernova from $400.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $314.35.

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.