Cullen Investment Group LTD. Sells 32 Shares of GE Vernova Inc. (NYSE:GEV)

Cullen Investment Group LTD. lessened its holdings in GE Vernova Inc. (NYSE:GEV) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,074 shares of the company’s stock after selling 32 shares during the quarter. Cullen Investment Group LTD.’s holdings in GE Vernova were worth $353,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Castleview Partners LLC purchased a new stake in shares of GE Vernova during the third quarter valued at approximately $28,000. Pathway Financial Advisers LLC bought a new stake in GE Vernova in the 2nd quarter worth $29,000. Glass Jacobson Investment Advisors llc purchased a new position in shares of GE Vernova in the second quarter valued at about $30,000. Covestor Ltd raised its position in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares during the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in shares of GE Vernova in the 3rd quarter worth approximately $31,000.

GE Vernova Price Performance

GEV opened at $381.73 on Wednesday. The firm has a 50 day moving average price of $341.28 and a 200-day moving average price of $260.29. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $388.88.

GE Vernova declared that its board has authorized a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

GE Vernova Announces Dividend

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 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 0.26%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GEV. Wells Fargo & Company upped their target price on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of GE Vernova in a research report on Monday, October 21st. They issued a “buy” rating and a $354.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $376.00 target price on shares of GE Vernova in a research report on Wednesday, December 11th. Raymond James cut shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Finally, Bank of America raised their target price on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday. Seven investment 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 company’s stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average 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.