Tompkins Financial Corp Raises Stake in GE Vernova Inc. (NYSE:GEV)

Tompkins Financial Corp raised its position in GE Vernova Inc. (NYSE:GEV) by 21.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,151 shares of the company’s stock after purchasing an additional 206 shares during the period. Tompkins Financial Corp’s holdings in GE Vernova were worth $379,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of GEV. Castleview Partners LLC acquired a new position in shares of GE Vernova during the third quarter worth $28,000. Pathway Financial Advisers LLC purchased a new stake in GE Vernova during the 2nd quarter worth about $29,000. Glass Jacobson Investment Advisors llc acquired a new position in shares of GE Vernova during the 2nd quarter worth about $30,000. Covestor Ltd boosted its position 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 acquiring an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new position in shares of GE Vernova in the 3rd quarter valued at about $31,000.

GE Vernova Stock Performance

GEV stock opened at $390.86 on Friday. GE Vernova Inc. has a one year low of $115.00 and a one year high of $397.76. The company has a fifty day moving average of $342.29 and a 200-day moving average of $261.18.

GE Vernova Dividend Announcement

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

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

Analysts Set New Price Targets

GEV has been the subject of several recent analyst reports. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 11th. Hsbc Global Res downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. Oppenheimer started coverage on shares of GE Vernova in a research report on Thursday, September 26th. They issued a “market perform” rating on the stock. Citigroup lifted their price target on shares of GE Vernova from $292.00 to $361.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Finally, Truist Financial upped their price objective on shares of GE Vernova from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $321.35.

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.