Annex Advisory Services LLC Lowers Stake in GE Vernova Inc. (NYSE:GEV)

Annex Advisory Services LLC decreased its position in shares of GE Vernova Inc. (NYSE:GEV) by 9.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 895 shares of the company’s stock after selling 98 shares during the period. Annex Advisory Services LLC’s holdings in GE Vernova were worth $294,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GEV. American Century Companies Inc. purchased a new position in shares of GE Vernova during the 2nd quarter worth $4,940,000. XTX Topco Ltd purchased a new position in GE Vernova during the second quarter worth about $383,000. Intech Investment Management LLC acquired a new stake in GE Vernova in the 2nd quarter worth about $970,000. Benjamin F. Edwards & Company Inc. purchased a new stake in GE Vernova in the 2nd quarter valued at about $368,000. Finally, AE Wealth Management LLC acquired a new position in shares of GE Vernova during the 2nd quarter valued at about $1,637,000.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of recent analyst reports. Raymond James downgraded shares of GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. TD Cowen started coverage on shares of GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective for the company. The Goldman Sachs Group increased their target price on GE Vernova from $400.00 to $446.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Evercore ISI upped their price target on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, Barclays lifted their price objective on GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $326.85.

GE Vernova Price Performance

GEV stock opened at $416.68 on Wednesday. The firm has a 50 day simple moving average of $345.63 and a 200-day simple moving average of $266.62. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $417.21.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.24%. The ex-dividend date is Friday, December 20th.

GE Vernova declared that its Board of Directors has approved a stock repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is 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.