GE Vernova Inc. (NYSE:GEV) Stock Position Reduced by ARS Investment Partners LLC

ARS Investment Partners LLC reduced its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,665 shares of the company's stock after selling 13,473 shares during the period. GE Vernova accounts for about 3.1% of ARS Investment Partners LLC's portfolio, making the stock its 9th largest holding. ARS Investment Partners LLC's holdings in GE Vernova were worth $34,099,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Castleview Partners LLC purchased a new stake in GE Vernova during the 3rd quarter valued at about $28,000. Pathway Financial Advisers LLC purchased a new stake in shares of GE Vernova in the second quarter valued at approximately $29,000. Covestor Ltd increased its holdings in shares of GE Vernova by 61.3% in the third 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. Darwin Wealth Management LLC purchased a new position in GE Vernova during the third quarter worth approximately $31,000. Finally, Prestige Wealth Management Group LLC lifted 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 buying an additional 77 shares in the last quarter.

GE Vernova Price Performance

NYSE GEV traded up $15.27 during trading hours on Tuesday, hitting $416.68. 4,205,878 shares of the company were exchanged, compared to its average volume of 2,843,960. The company has a 50 day moving average of $345.63 and a two-hundred day moving average of $266.62. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $417.21.

GE Vernova declared that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership 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 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 dividend yield of 0.24%.

Analyst Ratings Changes

GEV has been the subject of a number of recent research reports. Morgan Stanley raised their target price on GE Vernova from $301.00 to $367.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Truist Financial raised their price objective on shares of GE Vernova from $400.00 to $420.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Hsbc Global Res lowered shares of GE Vernova from a "strong-buy" rating to a "hold" rating in a report on Friday, October 4th. JPMorgan Chase & Co. raised their price target on shares of GE Vernova from $367.00 to $374.00 and gave the stock an "overweight" rating in a report on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on GE Vernova in a report on Monday, October 21st. They issued a "buy" rating and a $354.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $326.85.

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.