SeaCrest Wealth Management LLC Has $2.28 Million Stock Holdings in GE Vernova Inc. (NYSE:GEV)

SeaCrest Wealth Management LLC decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 24.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,934 shares of the company’s stock after selling 2,205 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in GE Vernova were worth $2,281,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC boosted its position in shares of GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after acquiring an additional 584,208 shares during the period. State Street Corp raised its stake in GE Vernova by 1.1% during the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after purchasing an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC acquired a new position in GE Vernova during the 3rd quarter valued at $2,507,296,000. Geode Capital Management LLC boosted its holdings in GE Vernova by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after purchasing an additional 80,479 shares during the period. Finally, Newport Trust Company LLC acquired a new stake in GE Vernova in the 2nd quarter worth $650,140,000.

GE Vernova Stock Performance

Shares of GEV stock opened at $381.73 on Wednesday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $388.88. The stock’s fifty day moving average is $341.28 and its 200-day moving average is $260.29.

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

GE Vernova Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently commented on GEV. HSBC reaffirmed a “hold” rating and set a $255.00 price objective (up previously from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Guggenheim reduced their price objective on GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Royal Bank of Canada restated an “outperform” rating and set a $376.00 price objective on shares of GE Vernova in a research report on Wednesday, December 11th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 11th. Finally, Oppenheimer began coverage on shares of GE Vernova in a report on Thursday, September 26th. They issued a “market perform” rating on the stock. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.