Aspiriant LLC Trims Holdings in GE Vernova Inc. (NYSE:GEV)

Aspiriant LLC cut its stake in GE Vernova Inc. (NYSE:GEV) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,281 shares of the company’s stock after selling 81 shares during the period. Aspiriant LLC’s holdings in GE Vernova were worth $421,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its position in GE Vernova by 2.5% in the 3rd 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 period. State Street Corp boosted its holdings in shares of GE Vernova by 1.1% in the third 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 period. Mountaineer Partners Management LLC bought a new position in GE Vernova in the third quarter worth approximately $2,507,296,000. Geode Capital Management LLC increased its holdings 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 worth $1,420,763,000 after purchasing an additional 80,479 shares during the period. Finally, WCM Investment Management LLC increased its holdings in GE Vernova by 83.1% during the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after purchasing an additional 1,161,901 shares during the period.

GE Vernova Price Performance

NYSE GEV opened at $416.68 on Wednesday. The stock’s fifty day moving average price is $345.63 and its 200 day moving average price is $266.62. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $417.21.

GE Vernova announced that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Friday, December 20th.

Wall Street Analyst Weigh In

GEV has been the topic of a number of recent research reports. Evercore ISI increased their price target on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 11th. Raymond James lowered shares of GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group increased their price objective on shares of GE Vernova from $400.00 to $446.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Citigroup boosted their price objective on shares of GE Vernova from $292.00 to $361.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. 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’s stock. Based on data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $326.85.

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.