Armstrong Henry H Associates Inc. Trims Stake in GE Vernova Inc. (NYSE:GEV)

Armstrong Henry H Associates Inc. lessened its stake in GE Vernova Inc. (NYSE:GEV) by 3.8% during the 4th quarter, HoldingsChannel reports. The firm owned 2,898 shares of the company’s stock after selling 115 shares during the quarter. Armstrong Henry H Associates Inc.’s holdings in GE Vernova were worth $953,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in GEV. Meeder Asset Management Inc. purchased a new stake in GE Vernova during the second quarter worth $25,000. Spectrum Wealth Counsel LLC acquired a new position in shares of GE Vernova in the second quarter worth about $27,000. Castleview Partners LLC purchased a new stake in shares of GE Vernova during the 3rd quarter worth about $28,000. Pathway Financial Advisers LLC acquired a new stake in shares of GE Vernova during the 2nd quarter valued at about $29,000. Finally, Glass Jacobson Investment Advisors llc purchased a new position in shares of GE Vernova in the 2nd quarter valued at about $30,000.

GE Vernova Trading Down 0.3 %

Shares of GEV opened at $366.14 on Tuesday. The firm has a 50-day simple moving average of $339.96 and a two-hundred day simple moving average of $258.81. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $376.30.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders 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 yield of 0.27%. The ex-dividend date is Friday, December 20th.

GE Vernova announced that its Board of Directors has authorized a share buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on GEV shares. Wells Fargo & Company increased their price target on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Wolfe Research began coverage on GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price on the stock. TD Cowen initiated coverage on shares of GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target for the company. Barclays increased their price objective on shares of GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, Jefferies Financial Group boosted their target price 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 given a buy rating and one has given a strong buy rating to the company. 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.