Connective Portfolio Management LLC Lowers Stock Position in GE Vernova Inc. (NYSE:GEV)

Connective Portfolio Management LLC cut its holdings in GE Vernova Inc. (NYSE:GEV) by 80.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,050 shares of the company’s stock after selling 16,985 shares during the quarter. GE Vernova makes up about 2.0% of Connective Portfolio Management LLC’s holdings, making the stock its 22nd biggest holding. Connective Portfolio Management LLC’s holdings in GE Vernova were worth $1,332,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Acadian Asset Management LLC bought a new position in shares of GE Vernova during the second quarter valued at approximately $375,000. American Century Companies Inc. purchased a new position in GE Vernova during the second quarter valued at $4,940,000. Thoroughbred Financial Services LLC bought a new stake in GE Vernova in the second quarter worth $251,000. Envestnet Asset Management Inc. purchased a new stake in shares of GE Vernova in the second quarter worth $45,674,000. Finally, J.W. Cole Advisors Inc. purchased a new position in shares of GE Vernova in the 2nd quarter worth about $576,000.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of analyst reports. Guggenheim reduced their price objective on shares of GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Barclays boosted their price objective on shares of GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. 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 research note on Tuesday. HSBC restated a “hold” rating and issued a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Finally, The Goldman Sachs Group lifted their price objective on GE Vernova from $324.00 to $400.00 and gave the stock a “buy” rating in a report 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $318.60.

GE Vernova Stock Up 1.1 %

Shares of NYSE:GEV opened at $386.40 on Thursday. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $392.77. The firm’s 50 day simple moving average is $341.28 and its two-hundred day simple moving average is $260.29.

GE Vernova Announces Dividend

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

GE Vernova declared that its Board of Directors has approved 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 purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.