SkyView Investment Advisors LLC Sells 88 Shares of GE Vernova Inc. (NYSE:GEV)

SkyView Investment Advisors LLC decreased its holdings in GE Vernova Inc. (NYSE:GEV) by 3.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,310 shares of the company’s stock after selling 88 shares during the period. SkyView Investment Advisors LLC’s holdings in GE Vernova were worth $589,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GEV shares. Hsbc Global Res lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Wells Fargo & Company initiated coverage on shares of GE Vernova in a report on Thursday, November 21st. They issued an “overweight” rating and a $385.00 price target on the stock. Evercore ISI boosted their target price on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on GE Vernova from $356.00 to $367.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Raymond James downgraded shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Seven investment 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. Based on data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $310.98.

GE Vernova Stock Performance

GEV stock opened at $329.91 on Friday. The business has a 50 day moving average price of $309.70 and a 200 day moving average price of $230.69. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $357.09.

GE Vernova Announces Dividend

The business also recently declared 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 is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.30%.

GE Vernova announced that its board has approved a stock repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

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.