GE Vernova Inc. (NYSE:GEV) Shares Sold by Sendero Wealth Management LLC

Sendero Wealth Management LLC trimmed its position in GE Vernova Inc. (NYSE:GEV) by 31.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,881 shares of the company’s stock after selling 2,711 shares during the quarter. Sendero Wealth Management LLC’s holdings in GE Vernova were worth $1,934,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GEV. Castleview Partners LLC acquired a new stake in GE Vernova in the third quarter valued at $28,000. Pathway Financial Advisers LLC purchased a new position in shares of GE Vernova in the 2nd quarter valued at about $29,000. Glass Jacobson Investment Advisors llc acquired a new stake in shares of GE Vernova during the 2nd quarter worth about $30,000. Covestor Ltd raised its position in shares of GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in GE Vernova during the third quarter worth approximately $31,000.

GE Vernova Trading Up 1.1 %

Shares of GE Vernova stock opened at $386.40 on Thursday. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $392.77. The company’s 50-day simple moving average is $341.28 and its 200-day simple moving average is $260.29.

GE Vernova announced that its board has approved a stock repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend is Friday, December 20th.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. HSBC restated a “hold” rating and issued a $255.00 target price (up previously from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Barclays upped their price objective on shares of GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Citigroup raised their price objective on GE Vernova from $292.00 to $361.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 11th. Finally, 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 research report on Friday, December 13th. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus 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.