Sendero Wealth Management LLC Cuts Stock Position in GE Vernova Inc. (NYSE:GEV)

Sendero Wealth Management LLC reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 31.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,881 shares of the company’s stock after selling 2,711 shares during the quarter. Sendero Wealth Management LLC’s holdings in GE Vernova were worth $1,934,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of GEV. Armstrong Advisory Group Inc. increased its stake in GE Vernova by 3.5% in the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after purchasing an additional 27 shares during the period. AdvisorNet Financial Inc increased its holdings in shares of GE Vernova by 1.6% in the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after acquiring an additional 30 shares during the period. Pittenger & Anderson Inc. raised its position in shares of GE Vernova by 28.0% in the 3rd quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock worth $41,000 after acquiring an additional 35 shares in the last quarter. Regent Peak Wealth Advisors LLC lifted its stake in shares of GE Vernova by 3.8% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 966 shares of the company’s stock worth $318,000 after purchasing an additional 35 shares during the last quarter. Finally, SteelPeak Wealth LLC boosted its position in GE Vernova by 2.5% during the third quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company’s stock valued at $400,000 after purchasing an additional 38 shares in the last quarter.

GE Vernova Trading Up 1.1 %

GE Vernova stock opened at $386.40 on Thursday. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $392.77. The company’s 50 day moving average is $341.28 and its two-hundred day moving average is $260.29.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Friday, December 20th.

GE Vernova announced that its Board of Directors has authorized a stock buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GEV. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $376.00 price objective on shares of GE Vernova in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft began coverage on GE Vernova in a research report on Monday, October 21st. They issued a “buy” rating and a $354.00 target price on the stock. Evercore ISI lifted their price objective on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Jefferies Financial Group boosted their target price on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Guggenheim lowered their price target 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $318.60.

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.