Westmount Partners LLC Sells 392 Shares of GE Vernova Inc. (NYSE:GEV)

Westmount Partners LLC reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 37.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 666 shares of the company’s stock after selling 392 shares during the period. Westmount Partners LLC’s holdings in GE Vernova were worth $219,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in GEV. Los Angeles Capital Management LLC purchased a new position in shares of GE Vernova during the 2nd quarter valued at about $237,000. Acadian Asset Management LLC purchased a new position in GE Vernova in the 2nd quarter worth approximately $375,000. LPL Financial LLC purchased a new position in GE Vernova in the 2nd quarter worth approximately $39,132,000. American Century Companies Inc. purchased a new position in GE Vernova in the 2nd quarter worth approximately $4,940,000. Finally, BOKF NA purchased a new position in GE Vernova in the 2nd quarter worth approximately $2,125,000.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. TD Cowen assumed coverage on GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $376.00 price objective on shares of GE Vernova in a research note on Wednesday, December 11th. Guggenheim lowered their target price on GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. BMO Capital Markets boosted their price target on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Truist Financial boosted their price objective on GE Vernova from $325.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.35.

GE Vernova Trading Down 1.1 %

Shares of GE Vernova stock traded down $3.87 during trading hours on Monday, reaching $363.23. The stock had a trading volume of 1,787,447 shares, compared to its average volume of 2,613,560. The stock’s 50 day moving average is $338.55 and its 200 day moving average is $257.48. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $376.30.

GE Vernova announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

GE Vernova Dividend Announcement

The business 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 dividend yield of 0.28%.

GE Vernova 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.