ARS Investment Partners LLC Decreases Position in GE Vernova Inc. (NYSE:GEV)

ARS Investment Partners LLC trimmed its position in GE Vernova Inc. (NYSE:GEV) by 11.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,665 shares of the company’s stock after selling 13,473 shares during the quarter. GE Vernova comprises approximately 3.1% of ARS Investment Partners LLC’s holdings, making the stock its 9th biggest position. ARS Investment Partners LLC’s holdings in GE Vernova were worth $34,099,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GEV. Castleview Partners LLC bought a new position in shares of GE Vernova in the third quarter worth about $28,000. Pathway Financial Advisers LLC bought a new position in shares of GE Vernova during the 2nd quarter valued at about $29,000. Covestor Ltd boosted its stake in GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 46 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in GE Vernova during the 3rd quarter valued at approximately $31,000. Finally, Prestige Wealth Management Group LLC increased its stake in GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 77 shares during the last quarter.

GE Vernova Price Performance

Shares of NYSE GEV opened at $401.84 on Tuesday. The company’s fifty day moving average price is $344.59 and its 200 day moving average price is $265.01. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $404.13.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors 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 yield of 0.25%.

GE Vernova announced that its board has approved a share buyback 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GEV shares. Jefferies Financial Group raised their target price on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. BMO Capital Markets increased their price target on shares of GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a research note on Monday, October 21st. They set a “buy” rating and a $354.00 price objective on the stock. TD Cowen initiated coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective for the company. Finally, The Goldman Sachs Group raised their price target on GE Vernova from $400.00 to $446.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.