Householder Group Estate & Retirement Specialist LLC Cuts Position in GE Vernova Inc. (NYSE:GEV)

Householder Group Estate & Retirement Specialist LLC decreased its position in GE Vernova Inc. (NYSE:GEV) by 22.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 225 shares of the company’s stock after selling 67 shares during the quarter. Householder Group Estate & Retirement Specialist LLC’s holdings in GE Vernova were worth $74,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Castleview Partners LLC purchased a new stake in GE Vernova in the third quarter valued at approximately $28,000. Pathway Financial Advisers LLC purchased a new stake in GE Vernova in the second quarter valued at approximately $29,000. Covestor Ltd raised its position in 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 period. Darwin Wealth Management LLC acquired a new position in shares of GE Vernova in the third quarter worth $31,000. Finally, Prestige Wealth Management Group LLC grew its stake in shares of GE Vernova by 175.0% in 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 in the last quarter.

GE Vernova Stock Up 2.8 %

Shares of NYSE:GEV opened at $401.84 on Friday. The company has a 50-day simple moving average of $344.59 and a 200-day simple moving average of $263.70. GE Vernova Inc. has a one year low of $115.00 and a one year high of $404.13.

GE Vernova announced that its Board of Directors has approved a share 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 typically a sign that the company’s board 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. Stockholders of record on Friday, December 20th will be issued a $0.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.25%.

Analyst Ratings Changes

GEV has been the subject of several research reports. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 11th. Evercore ISI boosted 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. Raymond James downgraded shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Morgan Stanley boosted their price target on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $376.00 price target on shares of GE Vernova in a research note on Wednesday, December 11th. 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 company’s stock. Based on data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $321.35.

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.