GE Vernova Inc. (NYSE:GEV) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB reduced its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,568 shares of the company’s stock after selling 650 shares during the period. Nordea Investment Management AB’s holdings in GE Vernova were worth $7,764,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GEV. National Bank of Canada FI increased its holdings in GE Vernova by 52.3% during the 2nd quarter. National Bank of Canada FI now owns 9,190 shares of the company’s stock worth $1,538,000 after purchasing an additional 3,155 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of GE Vernova in the 2nd quarter valued at $15,866,000. Private Advisor Group LLC acquired a new position in shares of GE Vernova during the second quarter worth $3,184,000. Candriam S.C.A. purchased a new stake in GE Vernova during the 2nd quarter worth about $565,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of GE Vernova during the 2nd quarter worth about $237,000.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $366.30 on Friday. The stock’s fifty day simple moving average is $337.22 and its 200-day simple moving average is $255.10. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $376.30.

GE Vernova Dividend Announcement

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

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

Wall Street Analyst Weigh In

GEV has been the topic of several recent analyst reports. William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 11th. The Goldman Sachs Group raised 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. Morgan Stanley raised their price target on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Barclays raised their price objective on shares of GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, HSBC reaffirmed a “hold” rating and set a $255.00 price objective (up from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Seven investment 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $314.35.

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.