Park National Corp OH Sells 171 Shares of GE Vernova Inc. (NYSE:GEV)

Park National Corp OH trimmed its holdings in GE Vernova Inc. (NYSE:GEV) by 8.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,961 shares of the company’s stock after selling 171 shares during the period. Park National Corp OH’s holdings in GE Vernova were worth $645,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Waverton Investment Management Ltd raised its stake in shares of GE Vernova by 10.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock valued at $185,459,000 after purchasing an additional 66,455 shares during the period. Hanlon Investment Management Inc. bought a new stake in shares of GE Vernova during the third quarter valued at about $1,101,000. Atria Investments Inc lifted its holdings in shares of GE Vernova by 127.0% in the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after buying an additional 2,847 shares in the last quarter. Fractal Investments LLC bought a new position in shares of GE Vernova in the third quarter valued at approximately $1,530,000. Finally, Legal & General Group Plc purchased a new position in GE Vernova during the second quarter valued at approximately $293,699,000.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $366.30 on Thursday. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $376.30. The company’s 50 day moving average price is $335.93 and its 200-day moving average price is $254.32.

GE Vernova Announces Dividend

The company also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date is Friday, December 20th.

GE Vernova announced that its board has authorized a share buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

GEV has been the subject of several analyst reports. Wolfe Research began coverage on shares of GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and set a $376.00 price objective on shares of GE Vernova in a research note on Wednesday, December 11th. Guggenheim decreased their target price on GE Vernova from $400.00 to $380.00 and set a “buy” rating on the stock 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 company a “neutral” rating in a research report on Monday, December 9th. Finally, Bank of America upped their price objective on shares of GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Seven equities 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.35.

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.