Stonehearth Capital Management LLC Sells 259 Shares of GE Vernova Inc. (NYSE:GEV)

Stonehearth Capital Management LLC lowered its position in GE Vernova Inc. (NYSE:GEV) by 17.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,215 shares of the company’s stock after selling 259 shares during the period. Stonehearth Capital Management LLC’s holdings in GE Vernova were worth $400,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Diversified Trust Co increased its holdings in shares of GE Vernova by 61.9% in the fourth quarter. Diversified Trust Co now owns 15,079 shares of the company’s stock worth $4,960,000 after acquiring an additional 5,768 shares in the last quarter. Canandaigua National Bank & Trust Co. grew its position in shares of GE Vernova by 1.7% in the 4th quarter. Canandaigua National Bank & Trust Co. now owns 2,691 shares of the company’s stock valued at $885,000 after purchasing an additional 45 shares during the period. CWA Asset Management Group LLC increased its stake in GE Vernova by 15.3% during the 4th quarter. CWA Asset Management Group LLC now owns 1,338 shares of the company’s stock worth $440,000 after purchasing an additional 178 shares in the last quarter. GAMMA Investing LLC lifted its stake in GE Vernova by 11.8% in the fourth quarter. GAMMA Investing LLC now owns 6,473 shares of the company’s stock valued at $2,129,000 after buying an additional 681 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of GE Vernova by 18.0% in the fourth quarter. Versant Capital Management Inc now owns 4,515 shares of the company’s stock valued at $1,485,000 after buying an additional 688 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GEV. Bank of America increased their target price on GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 price target on the stock. Barclays increased their price objective on shares of GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Oppenheimer began coverage on GE Vernova in a research report on Thursday, September 26th. They issued a “market perform” rating on the stock. Finally, HSBC reaffirmed a “hold” rating and set a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Seven equities 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $314.35.

GE Vernova Stock Performance

GE Vernova stock traded down $2.26 during mid-day trading on Tuesday, reaching $369.06. The company had a trading volume of 1,394,609 shares, compared to its average volume of 2,408,640. The business has a fifty day simple moving average of $333.20 and a 200 day simple moving average of $252.19. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $376.30.

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 given a dividend of $0.25 per share. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%.

GE Vernova declared that its Board of Directors has initiated a stock 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 repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are 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.