GE Vernova Inc. (NYSE:GEV) Shares Sold by Brooklyn Investment Group

Brooklyn Investment Group lowered its stake in shares of GE Vernova Inc. (NYSE:GEV) by 11.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,359 shares of the company’s stock after selling 177 shares during the quarter. Brooklyn Investment Group’s holdings in GE Vernova were worth $447,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC lifted its position in GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after purchasing an additional 584,208 shares during the last quarter. State Street Corp increased its stake in shares of GE Vernova by 1.1% in the third 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 stake in shares of GE Vernova during the third quarter valued at approximately $2,507,296,000. Geode Capital Management LLC raised its holdings in shares of 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 buying an additional 80,479 shares during the last quarter. Finally, Newport Trust Company LLC bought a new position in GE Vernova in the 2nd quarter worth approximately $650,140,000.

Wall Street Analyst Weigh In

Several analysts have weighed in on GEV shares. Truist Financial lifted their target price on GE Vernova from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday. BMO Capital Markets raised their target price on shares of GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 11th. Wells Fargo & Company raised their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, HSBC reaffirmed a “hold” rating and set a $255.00 price target (up from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Seven analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $321.35.

GE Vernova Trading Up 2.8 %

Shares of GEV 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 business’s 50 day moving average is $343.37 and its two-hundred day moving average is $262.08.

GE Vernova declared that its board has authorized a stock repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are 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 paid a $0.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.25%.

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.