GE Vernova Inc. (NYSE:GEV) Shares Sold by SkyView Investment Advisors LLC

SkyView Investment Advisors LLC trimmed its stake in shares of GE Vernova Inc. (NYSE:GEV) by 3.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,310 shares of the company’s stock after selling 88 shares during the quarter. SkyView Investment Advisors LLC’s holdings in GE Vernova were worth $589,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of GEV. FMR LLC boosted its stake 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 buying an additional 584,208 shares in the last quarter. State Street Corp raised its stake in shares of GE Vernova by 1.1% during the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after buying an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC acquired a new stake in shares of GE Vernova in the third quarter valued at approximately $2,507,296,000. Geode Capital Management LLC increased its position 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 worth $1,420,763,000 after buying an additional 80,479 shares in the last quarter. Finally, Newport Trust Company LLC purchased a new stake in shares of GE Vernova in the second quarter valued at $650,140,000.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $329.91 on Friday. The company’s fifty day moving average is $309.70 and its two-hundred day moving average is $230.69. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $357.09.

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

GE Vernova Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GEV. Hsbc Global Res lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. Wolfe Research began coverage on GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price on the stock. The Goldman Sachs Group upped their price objective on GE Vernova from $324.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday. Guggenheim reduced their price target on shares of GE Vernova from $400.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Evercore ISI upped their target price on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday. Seven equities 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’s stock. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $310.98.

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.