Nordea Investment Management AB Lowers Holdings in GE Vernova Inc. (NYSE:GEV)

Nordea Investment Management AB lowered its stake in shares of GE Vernova Inc. (NYSE:GEV) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,568 shares of the company’s stock after selling 650 shares during the quarter. Nordea Investment Management AB’s holdings in GE Vernova were worth $7,764,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. purchased a new position in GE Vernova during the second quarter worth approximately $25,000. Spectrum Wealth Counsel LLC acquired a new stake in shares of GE Vernova during the 2nd quarter worth $27,000. Castleview Partners LLC acquired a new position in GE Vernova in the third quarter valued at $28,000. Pathway Financial Advisers LLC purchased a new stake in GE Vernova during the second quarter valued at about $29,000. Finally, Glass Jacobson Investment Advisors llc acquired a new stake in GE Vernova during the second quarter worth about $30,000.

Analyst Ratings Changes

A number of analysts have recently issued reports on GEV shares. Bank of America boosted their target price on GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Barclays lifted their price target on shares of GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Evercore ISI raised their target price on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Raymond James cut shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley upped their target price on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $314.35.

GE Vernova Stock Performance

GEV opened at $366.30 on Friday. The stock’s 50 day moving average price is $337.22 and its 200 day moving average price is $255.10. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $376.30.

GE Vernova Dividend Announcement

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

GE Vernova announced that its board has approved a share repurchase program 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 stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

GE Vernova 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.