GE Vernova Inc. (NYSE:GEV) Stock Position Lessened by FOCUS Wealth Advisors LLC

FOCUS Wealth Advisors LLC decreased its holdings in GE Vernova Inc. (NYSE:GEV) by 15.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,233 shares of the company’s stock after selling 396 shares during the quarter. FOCUS Wealth Advisors LLC’s holdings in GE Vernova were worth $735,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Castleview Partners LLC bought a new position in shares of GE Vernova in the third quarter worth $28,000. Pathway Financial Advisers LLC bought a new position in shares of GE Vernova in the second quarter worth $29,000. Covestor Ltd grew its stake in shares of 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 acquired a new stake in shares of GE Vernova in the third quarter valued at $31,000. Finally, Prestige Wealth Management Group LLC lifted its holdings in shares of 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 during the period.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GEV. Citigroup upped their price objective on GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a report on Monday, December 9th. BMO Capital Markets upped their price objective on GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a report on Monday, October 14th. JPMorgan Chase & Co. upped their target price on GE Vernova from $367.00 to $374.00 and gave the company an “overweight” rating in a report on Tuesday, January 14th. Hsbc Global Res downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Finally, Barclays upped their target price on GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Seven investment 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $321.35.

GE Vernova Price Performance

Shares of NYSE GEV opened at $401.84 on Monday. The business’s 50-day simple moving average is $344.59 and its 200-day simple moving average is $264.36. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $404.13.

GE Vernova Announces Dividend

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

GE Vernova announced that its board has initiated a share buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership 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.