Harbor Capital Advisors Inc. Sells 698 Shares of GE Vernova Inc. (NYSE:GEV)

Harbor Capital Advisors Inc. reduced its position in GE Vernova Inc. (NYSE:GEV) by 9.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,704 shares of the company’s stock after selling 698 shares during the period. Harbor Capital Advisors Inc.’s holdings in GE Vernova were worth $2,205,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. FMR LLC grew its holdings in shares of GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after buying an additional 584,208 shares during the last quarter. State Street Corp raised its holdings in shares of GE Vernova by 1.1% in the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after acquiring an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC bought a new position in GE Vernova in the 3rd quarter valued at about $2,507,296,000. Geode Capital Management LLC boosted its stake in GE Vernova by 1.5% during 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 last quarter. Finally, Newport Trust Company LLC bought a new stake in GE Vernova during the 2nd quarter worth approximately $650,140,000.

Analysts Set New Price Targets

GEV has been the topic of a number of recent research reports. Barclays raised their target price on GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. raised their price objective on GE Vernova from $356.00 to $367.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Truist Financial upped their target price on shares of GE Vernova from $325.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Oppenheimer assumed coverage on shares of GE Vernova in a research report on Thursday, September 26th. They set a “market perform” rating on the stock. Finally, BMO Capital Markets boosted their price target on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Seven 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 stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $314.35.

GE Vernova Trading Up 0.3 %

Shares of NYSE GEV opened at $367.53 on Friday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $376.30. The stock has a fifty day moving average of $338.55 and a 200-day moving average of $256.93.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend is Friday, December 20th.

GE Vernova declared that its board has approved a share repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically 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.