Sunbelt Securities Inc. Sells 37 Shares of GE Vernova Inc. (NYSE:GEV)

Sunbelt Securities Inc. cut its position in shares of GE Vernova Inc. (NYSE:GEV) by 13.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 230 shares of the company’s stock after selling 37 shares during the quarter. Sunbelt Securities Inc.’s holdings in GE Vernova were worth $59,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GEV. FMR LLC grew its holdings in shares of GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after acquiring an additional 584,208 shares in the last quarter. State Street Corp grew its stake in GE Vernova by 1.1% in the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after purchasing an additional 118,184 shares during the period. Mountaineer Partners Management LLC bought a new position in GE Vernova in the 3rd quarter valued at $2,507,296,000. Geode Capital Management LLC increased its position in shares of GE Vernova by 1.5% during the 3rd 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 bought a new stake in shares of GE Vernova during the 2nd quarter worth $650,140,000.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 11th. Jefferies Financial Group raised their price target on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday. Wolfe Research assumed coverage on GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective on the stock. Truist Financial raised their target price on GE Vernova from $325.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $376.00 price target on shares of GE Vernova in a research report on Wednesday, December 11th. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.35.

GE Vernova Stock Up 0.6 %

Shares of GEV stock opened at $332.01 on Monday. The business’s fifty day moving average is $312.53 and its 200 day moving average is $233.23. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $357.09.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.30%.

GE Vernova declared that its board has authorized a share buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.