International Assets Investment Management LLC Sells 1,431,974 Shares of GE Vernova Inc. (NYSE:GEV)

International Assets Investment Management LLC lessened its position in GE Vernova Inc. (NYSE:GEV) by 99.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,818 shares of the company’s stock after selling 1,431,974 shares during the period. International Assets Investment Management LLC’s holdings in GE Vernova were worth $1,294,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Trifecta Capital Advisors LLC bought a new position in GE Vernova in the 2nd quarter valued at approximately $25,000. Meeder Asset Management Inc. bought a new position in shares of GE Vernova during the second quarter valued at $25,000. Spectrum Wealth Counsel LLC purchased a new stake in shares of GE Vernova during the second quarter valued at $27,000. Castleview Partners LLC bought a new stake in GE Vernova in the 3rd quarter worth about $28,000. Finally, Pathway Financial Advisers LLC purchased a new position in GE Vernova in the 2nd quarter worth about $29,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays raised their price target on shares of GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Wells Fargo & Company lifted their target price on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Hsbc Global Res cut GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 11th. Finally, Oppenheimer assumed coverage on GE Vernova in a research report on Thursday, September 26th. They set a “market perform” rating for the company. 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. According to MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $314.35.

GE Vernova Stock Down 0.6 %

Shares of GEV opened at $366.30 on Thursday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $376.30. The business’s 50 day simple moving average is $335.93 and its 200-day simple moving average is $254.32.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors 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 yield of 0.27%. The ex-dividend date is Friday, December 20th.

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