GE Vernova Inc. (NYSE:GEV) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC trimmed its stake in GE Vernova Inc. (NYSE:GEV) by 24.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,934 shares of the company’s stock after selling 2,205 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in GE Vernova were worth $2,281,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. FMR LLC boosted its position in shares of GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after purchasing an additional 584,208 shares during the period. State Street Corp raised its holdings in GE Vernova by 1.1% during the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after buying an additional 118,184 shares during the period. Mountaineer Partners Management LLC purchased a new stake in GE Vernova during the third quarter valued at about $2,507,296,000. Geode Capital Management LLC boosted its holdings in shares of GE Vernova by 1.5% in the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after buying an additional 80,479 shares during the period. Finally, Newport Trust Company LLC purchased a new position in shares of GE Vernova in the second quarter worth approximately $650,140,000.

GE Vernova Price Performance

Shares of GEV stock opened at $381.73 on Wednesday. The stock’s 50 day simple moving average is $341.28 and its 200 day simple moving average is $260.29. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $388.88.

GE Vernova announced that its board has initiated a stock buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date is Friday, December 20th.

Wall Street Analyst Weigh In

GEV has been the subject of several research analyst reports. Guggenheim reduced their price target on shares of GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Bank of America increased their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday. Oppenheimer assumed coverage on GE Vernova in a report on Thursday, September 26th. They set a “market perform” rating on the stock. Wells Fargo & Company increased their price objective on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, The Goldman Sachs Group lifted their target price on GE Vernova from $324.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $318.60.

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.