International Assets Investment Management LLC Sells 1,431,974 Shares of GE Vernova Inc. (NYSE:GEV)

International Assets Investment Management LLC lessened its stake in GE Vernova Inc. (NYSE:GEV) by 99.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,818 shares of the company’s stock after selling 1,431,974 shares during the period. International Assets Investment Management LLC’s holdings in GE Vernova were worth $1,294,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Regent Peak Wealth Advisors LLC increased its position in shares of GE Vernova by 3.8% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 966 shares of the company’s stock worth $318,000 after acquiring an additional 35 shares during the period. Diversified Trust Co grew its stake in 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 purchasing an additional 5,768 shares in the last quarter. Canandaigua National Bank & Trust Co. increased its holdings in GE Vernova by 1.7% during the 4th quarter. Canandaigua National Bank & Trust Co. now owns 2,691 shares of the company’s stock worth $885,000 after purchasing an additional 45 shares during the period. CWA Asset Management Group LLC raised its position 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 valued at $440,000 after purchasing an additional 178 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of GE Vernova by 11.8% in the 4th quarter. GAMMA Investing LLC now owns 6,473 shares of the company’s stock worth $2,129,000 after buying an additional 681 shares during the period.

Analyst Ratings Changes

Several brokerages have recently commented on GEV. Barclays raised their price target on GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Morgan Stanley raised their target price on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. BMO Capital Markets upped their price target on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Truist Financial lifted their price objective on shares of GE Vernova from $325.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Jefferies Financial Group boosted their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.35.

GE Vernova Price Performance

Shares of GEV opened at $366.30 on Thursday. The company’s fifty day moving average price is $335.93 and its 200-day moving average price is $254.32. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $376.30.

GE Vernova Dividend Announcement

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

GE Vernova announced that its board has approved a share buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership 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.