West Oak Capital LLC Purchases 308 Shares of GE Vernova Inc. (NYSE:GEV)

West Oak Capital LLC boosted its position in GE Vernova Inc. (NYSE:GEV) by 1,811.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 325 shares of the company’s stock after purchasing an additional 308 shares during the quarter. West Oak Capital LLC’s holdings in GE Vernova were worth $107,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GEV. FMR LLC lifted its position in GE Vernova by 2.5% during the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after acquiring an additional 584,208 shares during the period. State Street Corp increased its stake in shares of GE Vernova by 1.1% during the third 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 in the last quarter. Mountaineer Partners Management LLC purchased a new position in shares of GE Vernova during the third quarter valued at approximately $2,507,296,000. Geode Capital Management LLC boosted its position in shares of GE Vernova by 1.5% in the 3rd 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 in the last quarter. Finally, Newport Trust Company LLC purchased a new stake in shares of GE Vernova in the 2nd quarter worth approximately $650,140,000.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Guggenheim lowered their price objective on GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Citigroup lifted their price target on GE Vernova from $292.00 to $361.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Wolfe Research assumed coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective on the stock. Raymond James cut shares of GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Finally, Evercore ISI upped their target price on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $314.35.

GE Vernova Price Performance

Shares of GE Vernova stock traded up $1.05 during trading hours on Friday, hitting $367.53. The company’s stock had a trading volume of 2,385,116 shares, compared to its average volume of 2,759,704. The business has a 50 day moving average price of $337.22 and a two-hundred day moving average price of $255.10. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $376.30.

GE Vernova Dividend Announcement

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

GE Vernova declared that its board has approved a stock repurchase program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board 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.