800 Shares in GE Vernova Inc. (NYSE:GEV) Acquired by Blankinship & Foster LLC

Blankinship & Foster LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the third quarter, Holdings Channel.com reports. The fund purchased 800 shares of the company’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of GEV. FMR LLC raised its holdings in shares of GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after buying an additional 584,208 shares during the last quarter. State Street Corp raised its stake in shares of GE Vernova by 1.1% in the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after acquiring an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC bought a new position in shares of GE Vernova in the third quarter worth about $2,507,296,000. Geode Capital Management LLC lifted its position in shares of GE Vernova by 1.5% during 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 in the last quarter. Finally, Newport Trust Company LLC bought a new stake in shares of GE Vernova during the second quarter valued at approximately $650,140,000.

Analysts Set New Price Targets

GEV has been the topic of several research reports. Evercore ISI upped their price objective on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday. Wolfe Research started coverage on GE Vernova in a research note on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target on the stock. The Goldman Sachs Group lifted their price objective on GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Citigroup upped their target price on shares of GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a research report on Monday. Finally, BMO Capital Markets lifted their price target on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Seven 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.15.

GE Vernova Stock Down 1.4 %

GE Vernova stock traded down $4.96 during mid-day trading on Thursday, reaching $338.84. The company’s stock had a trading volume of 246,332 shares, compared to its average volume of 3,435,882. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $357.09. The business’s 50 day simple moving average is $309.70 and its 200 day simple moving average is $230.69.

GE Vernova announced that its Board of Directors has initiated a stock buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Friday, December 20th.

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.