Uncommon Cents Investing LLC Cuts Holdings in GE Vernova Inc. (NYSE:GEV)

Uncommon Cents Investing LLC cut its holdings in GE Vernova Inc. (NYSE:GEV) by 0.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,955 shares of the company’s stock after selling 32 shares during the quarter. Uncommon Cents Investing LLC’s holdings in GE Vernova were worth $1,630,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GEV. Castleview Partners LLC purchased a new stake in shares of GE Vernova during the 3rd quarter worth $28,000. Covestor Ltd boosted its holdings in GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in GE Vernova during the third quarter worth about $31,000. Prestige Wealth Management Group LLC increased its holdings in GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 77 shares in the last quarter. Finally, Planning Capital Management Corp lifted its position in shares of GE Vernova by 1,000.0% during the 3rd quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock valued at $36,000 after acquiring an additional 130 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GEV shares. Jefferies Financial Group upped their price target on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Hsbc Global Res cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 11th. BMO Capital Markets raised their target price on shares of GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Citigroup upped their price target on shares of GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a report on Monday, December 9th. Seven 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $321.35.

GE Vernova Stock Up 2.8 %

NYSE:GEV opened at $401.84 on Monday. The firm’s 50 day moving average is $344.59 and its two-hundred day moving average is $264.36. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $404.13.

GE Vernova Announces Dividend

The company also recently announced 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. This represents a $1.00 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend is Friday, December 20th.

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

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.