Integrated Investment Consultants LLC Lowers Holdings in GE Vernova Inc. (NYSE:GEV)

Integrated Investment Consultants LLC decreased its position in shares of GE Vernova Inc. (NYSE:GEV) by 22.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 633 shares of the company’s stock after selling 186 shares during the quarter. Integrated Investment Consultants LLC’s holdings in GE Vernova were worth $208,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Mountaineer Partners Management LLC bought a new position in GE Vernova during the 3rd quarter worth about $2,507,296,000. Marshall Wace LLP purchased a new stake in shares of GE Vernova in the 2nd quarter worth approximately $399,770,000. Legal & General Group Plc bought a new position in shares of GE Vernova during the second quarter valued at approximately $293,699,000. Electron Capital Partners LLC increased its holdings in GE Vernova by 1,641.3% during the second quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock valued at $290,589,000 after buying an additional 1,596,996 shares during the period. Finally, Lone Pine Capital LLC bought a new position in GE Vernova in the second quarter worth approximately $253,322,000.

GE Vernova Stock Performance

GE Vernova stock opened at $401.84 on Friday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $404.13. The stock’s 50 day simple moving average is $344.59 and its two-hundred day simple moving average is $263.70.

GE Vernova announced that its board has approved a share buyback plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

GE Vernova Announces Dividend

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

Analyst Ratings Changes

GEV has been the topic of a number of analyst reports. Citigroup lifted their price target on GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a report on Monday, December 9th. Evercore ISI lifted their target price on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. BMO Capital Markets increased their price target on shares of GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $376.00 price objective on shares of GE Vernova in a research note on Wednesday, December 11th. Finally, Hsbc Global Res downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Seven equities 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 stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.35.

About GE Vernova

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.