FNY Investment Advisers LLC Has $657,000 Position in GE Vernova Inc. (NYSE:GEV)

FNY Investment Advisers LLC lessened its position in GE Vernova Inc. (NYSE:GEV) by 80.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,000 shares of the company’s stock after selling 8,300 shares during the period. FNY Investment Advisers LLC’s holdings in GE Vernova were worth $657,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of GEV. Castleview Partners LLC acquired a new stake in GE Vernova during the 3rd quarter worth $28,000. Covestor Ltd lifted its holdings in shares of GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of GE Vernova in the 3rd quarter valued at approximately $31,000. Prestige Wealth Management Group LLC increased its stake in GE Vernova by 175.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares in the last quarter. Finally, Planning Capital Management Corp raised its holdings in GE Vernova by 1,000.0% during the 3rd quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock worth $36,000 after buying an additional 130 shares during the period.

Wall Street Analysts Forecast Growth

GEV has been the subject of several research reports. William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $376.00 price objective on shares of GE Vernova in a report on Wednesday, December 11th. JPMorgan Chase & Co. increased their target price on shares of GE Vernova from $356.00 to $367.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Truist Financial upped their target price on GE Vernova from $325.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, TD Cowen started coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target for the company. 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. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.35.

GE Vernova Stock Down 0.3 %

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

GE Vernova Dividend Announcement

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

GE Vernova announced that its board 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 repurchase up to 6.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board 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.