Farmers Trust Co. Has $577,000 Stake in GE Vernova Inc. (NYSE:GEV)

Farmers Trust Co. lessened its stake in shares of GE Vernova Inc. (NYSE:GEV) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,754 shares of the company’s stock after selling 61 shares during the quarter. Farmers Trust Co.’s holdings in GE Vernova were worth $577,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Trifecta Capital Advisors LLC acquired a new stake in shares of GE Vernova in the second quarter worth $25,000. Meeder Asset Management Inc. bought a new stake in GE Vernova during the second quarter valued at about $25,000. Spectrum Wealth Counsel LLC acquired a new stake in shares of GE Vernova in the second quarter valued at about $27,000. Castleview Partners LLC acquired a new position in shares of GE Vernova during the 3rd quarter worth about $28,000. Finally, Pathway Financial Advisers LLC bought a new stake in GE Vernova during the 2nd quarter valued at approximately $29,000.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GEV. Raymond James cut GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group boosted their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Oppenheimer started coverage on GE Vernova in a research report on Thursday, September 26th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. raised their target price on GE Vernova from $356.00 to $367.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Bank of America upped their price objective on GE Vernova from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.35.

GE Vernova Trading Down 1.1 %

NYSE:GEV traded down $4.19 during mid-day trading on Wednesday, hitting $364.33. The company had a trading volume of 2,665,450 shares, compared to its average volume of 2,728,017. The business’s fifty day moving average is $334.55 and its two-hundred day moving average is $253.53. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $376.30.

GE Vernova Announces Dividend

The company 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 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend is Friday, December 20th.

GE Vernova declared that its board has initiated a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management 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.