ZWJ Investment Counsel Inc. Reduces Position in GE Vernova Inc. (NYSE:GEV)

ZWJ Investment Counsel Inc. lowered its holdings in GE Vernova Inc. (NYSE:GEV) by 27.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,586 shares of the company’s stock after selling 1,346 shares during the period. ZWJ Investment Counsel Inc.’s holdings in GE Vernova were worth $1,180,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Armstrong Advisory Group Inc. grew its position in shares of GE Vernova by 3.5% during the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after buying an additional 27 shares in the last quarter. AdvisorNet Financial Inc raised its stake in shares of GE Vernova by 1.6% in the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after purchasing an additional 30 shares in the last quarter. Pittenger & Anderson Inc. lifted its position in shares of GE Vernova by 28.0% during the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock worth $41,000 after purchasing an additional 35 shares during the last quarter. Regent Peak Wealth Advisors LLC grew its stake in GE Vernova by 3.8% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 966 shares of the company’s stock worth $318,000 after purchasing an additional 35 shares in the last quarter. Finally, SteelPeak Wealth LLC grew its stake in GE Vernova by 2.5% in the third quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company’s stock worth $400,000 after purchasing an additional 38 shares in the last quarter.

GE Vernova Stock Up 2.8 %

Shares of NYSE:GEV opened at $401.84 on Tuesday. The company has a 50 day moving average of $344.59 and a 200-day moving average of $265.01. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $404.13.

GE Vernova announced that its Board of Directors has authorized a share buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

GE Vernova Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have issued reports on GEV. Royal Bank of Canada restated an “outperform” rating and set a $376.00 price objective on shares of GE Vernova in a research note on Wednesday, December 11th. Morgan Stanley upped their price target on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Citigroup lifted their price objective on shares of GE Vernova from $292.00 to $361.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. Evercore ISI increased their target price on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, Oppenheimer initiated coverage on shares of GE Vernova in a research report on Thursday, September 26th. They issued a “market perform” rating on the stock. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $321.35.

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.