Courier Capital LLC Decreases Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Courier Capital LLC reduced its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,817 shares of the company’s stock after selling 54 shares during the quarter. Courier Capital LLC’s holdings in GE Vernova were worth $598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Meeder Asset Management Inc. bought a new stake in shares of GE Vernova during the 2nd quarter worth $25,000. Spectrum Wealth Counsel LLC purchased a new stake in GE Vernova during the second quarter worth about $27,000. Castleview Partners LLC bought a new stake in GE Vernova in the third quarter worth about $28,000. Pathway Financial Advisers LLC purchased a new position in GE Vernova in the second quarter valued at about $29,000. Finally, Glass Jacobson Investment Advisors llc bought a new position in shares of GE Vernova during the 2nd quarter valued at approximately $30,000.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $366.14 on Tuesday. The stock’s 50-day simple moving average is $339.96 and its two-hundred day simple moving average is $258.81. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $376.30.

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

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. The ex-dividend date is Friday, December 20th.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of research reports. BMO Capital Markets lifted their price target on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Oppenheimer initiated coverage on GE Vernova in a research report on Thursday, September 26th. They set a “market perform” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $376.00 price objective on shares of GE Vernova in a report on Wednesday, December 11th. Hsbc Global Res downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Finally, Raymond James lowered shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. 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. According to data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $314.35.

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.