GE Vernova Inc. (NYSE:GEV) Shares Sold by Apella Capital LLC

Apella Capital LLC reduced its position in GE Vernova Inc. (NYSE:GEV) by 11.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 761 shares of the company’s stock after selling 94 shares during the period. Apella Capital LLC’s holdings in GE Vernova were worth $250,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC grew its position in shares of GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after acquiring an additional 584,208 shares in the last quarter. State Street Corp boosted its holdings in GE Vernova by 1.1% in the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after purchasing an additional 118,184 shares during the period. Mountaineer Partners Management LLC bought a new stake in GE Vernova during the third quarter valued at $2,507,296,000. Geode Capital Management LLC increased its stake in GE Vernova by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after purchasing an additional 80,479 shares during the last quarter. Finally, Newport Trust Company LLC acquired a new stake in shares of GE Vernova during the second quarter worth $650,140,000.

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 stock has a fifty day moving average price of $341.28 and a two-hundred day moving average price of $260.29.

GE Vernova declared that its board has authorized a stock buyback plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

GE Vernova Dividend Announcement

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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Friday, December 20th.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GEV shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 price target for the company. Jefferies Financial Group upped their target price on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Morgan Stanley raised their price target on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Evercore ISI upped their price objective 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, Guggenheim dropped their target price on GE Vernova from $400.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $318.60.

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.