Northside Capital Management LLC Has $305,000 Stake in GE Vernova Inc. (NYSE:GEV)

Northside Capital Management LLC cut its stake in GE Vernova Inc. (NYSE:GEV) by 17.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 928 shares of the company’s stock after selling 200 shares during the quarter. Northside Capital Management LLC’s holdings in GE Vernova were worth $305,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in GE Vernova in the 2nd quarter valued at $375,000. American Century Companies Inc. purchased a new stake in shares of GE Vernova in the second quarter valued at about $4,940,000. Thoroughbred Financial Services LLC purchased a new stake in shares of GE Vernova in the second quarter valued at about $251,000. Envestnet Asset Management Inc. bought a new position in shares of GE Vernova during the second quarter valued at about $45,674,000. Finally, J.W. Cole Advisors Inc. purchased a new position in GE Vernova during the second quarter worth about $576,000.

GE Vernova Stock Performance

NYSE:GEV opened at $386.40 on Thursday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $392.77. The stock’s fifty day moving average price is $341.28 and its two-hundred day moving average price is $260.29.

GE Vernova Announces Dividend

The business also recently disclosed 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 0.26%.

GE Vernova declared that its board has authorized a share buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to buy up to 6.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have commented on GEV. Citigroup increased their price objective on shares of GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Hsbc Global Res lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Evercore ISI lifted their price target on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Guggenheim cut their price objective on GE Vernova from $400.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Finally, Barclays raised their target price on GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Seven investment 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $318.60.

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.