GE Vernova Inc. (NYSE:GEV) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. lowered its position in shares of GE Vernova Inc. (NYSE:GEV) by 1.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,039 shares of the company’s stock after selling 648 shares during the period. Meyer Handelman Co.’s holdings in GE Vernova were worth $12,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Castleview Partners LLC purchased a new position in GE Vernova in the third quarter worth approximately $28,000. Pathway Financial Advisers LLC acquired a new position in shares of GE Vernova in the 2nd quarter valued at $29,000. Glass Jacobson Investment Advisors llc acquired a new position in shares of GE Vernova in the 2nd quarter valued at $30,000. Covestor Ltd grew its holdings in shares of GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares during the period. Finally, Darwin Wealth Management LLC acquired a new stake in shares of GE Vernova during the 3rd quarter worth about $31,000.

GE Vernova Trading Up 4.1 %

Shares of GE Vernova stock opened at $381.73 on Wednesday. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $388.88. The company has a 50 day moving average of $341.28 and a 200 day moving average of $260.29.

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

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.26%.

Wall Street Analyst Weigh In

GEV has been the topic of a number of recent analyst reports. Truist Financial upped their target price on shares of GE Vernova from $325.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Oppenheimer assumed coverage on shares of GE Vernova in a report on Thursday, September 26th. They issued a “market perform” rating on the stock. Citigroup increased their price objective on shares of GE Vernova from $292.00 to $361.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Bank of America boosted their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Guggenheim lowered their price target on GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Seven investment 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $318.60.

GE Vernova 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.