Arkadios Wealth Advisors Has $662,000 Holdings in GE Vernova Inc. (NYSE:GEV)

Arkadios Wealth Advisors lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 89.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,012 shares of the company's stock after selling 16,564 shares during the quarter. Arkadios Wealth Advisors' holdings in GE Vernova were worth $662,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Castleview Partners LLC bought a new position in shares of GE Vernova in the third quarter valued at approximately $28,000. Pathway Financial Advisers LLC bought a new position in GE Vernova during the second quarter worth $29,000. Covestor Ltd increased its position in GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company's stock worth $31,000 after acquiring an additional 46 shares during the period. Darwin Wealth Management LLC bought a new position in GE Vernova during the third quarter worth $31,000. Finally, Prestige Wealth Management Group LLC increased its position in GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company's stock worth $31,000 after acquiring an additional 77 shares during the period.

GE Vernova Price Performance

NYSE GEV traded up $15.27 during trading hours on Tuesday, reaching $416.68. 4,199,286 shares of the company's stock were exchanged, compared to its average volume of 2,841,609. The company's 50-day moving average is $345.63 and its two-hundred day moving average is $266.62. GE Vernova Inc. has a one year low of $115.00 and a one year high of $417.21.

GE Vernova declared that its board has authorized a share repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

GE Vernova Dividend Announcement

The firm 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 dividend of $0.25 per share. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.24%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GEV shares. Barclays boosted their target price on shares of GE Vernova from $320.00 to $420.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a research report on Monday, October 21st. They set a "buy" rating and a $354.00 target price on the stock. Truist Financial lifted their price target on shares of GE Vernova from $400.00 to $420.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Evercore ISI lifted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $376.00 price target on shares of GE Vernova in a research note on Wednesday, December 11th. Seven equities research 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, the company has an average rating of "Moderate Buy" and a consensus price target of $326.85.

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.