Westmount Partners LLC Has $219,000 Position in GE Vernova Inc. (NYSE:GEV)

Westmount Partners LLC lowered its position in GE Vernova Inc. (NYSE:GEV) by 37.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 666 shares of the company’s stock after selling 392 shares during the quarter. Westmount Partners LLC’s holdings in GE Vernova were worth $219,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of GEV. Mountaineer Partners Management LLC acquired a new stake in shares of GE Vernova during the 3rd quarter worth about $2,507,296,000. Newport Trust Company LLC bought a new position in GE Vernova during the second quarter worth about $650,140,000. Marshall Wace LLP bought a new position in GE Vernova during the second quarter worth about $399,770,000. Legal & General Group Plc bought a new position in GE Vernova during the second quarter worth about $293,699,000. Finally, Electron Capital Partners LLC increased its position in GE Vernova by 1,641.3% during the second quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock worth $290,589,000 after acquiring an additional 1,596,996 shares during the period.

GE Vernova Stock Down 1.1 %

NYSE GEV traded down $3.87 on Monday, reaching $363.23. 1,787,447 shares of the company’s stock traded hands, compared to its average volume of 2,613,560. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $376.30. The stock has a 50-day simple moving average of $338.55 and a 200 day simple moving average of $257.48.

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 0.28%. The ex-dividend date is Friday, December 20th.

GE Vernova declared that its Board of Directors has approved a stock repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GEV shares. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 11th. Evercore ISI raised their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Jefferies Financial Group lifted their target price on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Raymond James downgraded shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Finally, BMO Capital Markets lifted their target price 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 research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.