Integrated Investment Consultants LLC Trims Stake in GE Vernova Inc. (NYSE:GEV)

Integrated Investment Consultants LLC lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 22.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 633 shares of the company’s stock after selling 186 shares during the quarter. Integrated Investment Consultants LLC’s holdings in GE Vernova were worth $208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of GEV. Armstrong Advisory Group Inc. increased its position in GE Vernova by 3.5% in the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after buying an additional 27 shares in the last quarter. AdvisorNet Financial Inc raised its stake in GE Vernova by 1.6% during the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after acquiring an additional 30 shares during the period. Pittenger & Anderson Inc. raised its stake in GE Vernova by 28.0% during the 3rd quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock worth $41,000 after acquiring an additional 35 shares during the period. Regent Peak Wealth Advisors LLC lifted its holdings in GE Vernova by 3.8% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 966 shares of the company’s stock valued at $318,000 after purchasing an additional 35 shares in the last quarter. Finally, SteelPeak Wealth LLC boosted its position in shares of GE Vernova by 2.5% in the third quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company’s stock worth $400,000 after purchasing an additional 38 shares during the period.

Analyst Ratings Changes

A number of research analysts recently weighed in on GEV shares. Wolfe Research began coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price on the stock. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 11th. Barclays lifted their target price on GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. 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 research note on Friday, December 13th. Finally, Evercore ISI lifted their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $321.35.

GE Vernova Price Performance

Shares of GEV stock opened at $401.84 on Friday. The stock has a 50 day moving average price of $344.59 and a 200 day moving average price of $263.70. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $404.13.

GE Vernova Announces Dividend

The business also recently announced 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 0.25%. The ex-dividend date of this dividend is Friday, December 20th.

GE Vernova announced that its Board of Directors has authorized a share repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

GE Vernova Company 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.