Stonehearth Capital Management LLC Sells 259 Shares of GE Vernova Inc. (NYSE:GEV)

Stonehearth Capital Management LLC lowered its stake in shares of GE Vernova Inc. (NYSE:GEV) by 17.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,215 shares of the company’s stock after selling 259 shares during the quarter. Stonehearth Capital Management LLC’s holdings in GE Vernova were worth $400,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GEV. Trifecta Capital Advisors LLC acquired a new stake in GE Vernova in the 2nd quarter valued at $25,000. Meeder Asset Management Inc. acquired a new position in shares of GE Vernova during the second quarter valued at about $25,000. Spectrum Wealth Counsel LLC bought a new stake in shares of GE Vernova during the second quarter worth about $27,000. Castleview Partners LLC acquired a new stake in shares of GE Vernova in the 3rd quarter worth about $28,000. Finally, Pathway Financial Advisers LLC bought a new position in GE Vernova in the 2nd quarter valued at about $29,000.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Bank of America increased their price objective on GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Morgan Stanley raised their price objective on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $376.00 target price on shares of GE Vernova in a report on Wednesday, December 11th. Jefferies Financial Group boosted their price target on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, BMO Capital Markets increased their price objective on shares of GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $314.35.

GE Vernova Price Performance

Shares of NYSE:GEV traded down $2.26 during trading on Tuesday, reaching $369.06. The company had a trading volume of 1,394,609 shares, compared to its average volume of 2,408,640. The company has a fifty day moving average of $333.20 and a two-hundred day moving average of $252.19. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $376.30.

GE Vernova Announces Dividend

The company also recently declared 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. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%.

GE Vernova declared that its Board of Directors has approved a stock repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

GE Vernova Company 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.