GE Vernova (NYSE:GEV) Price Target Raised to $400.00

GE Vernova (NYSE:GEV) had its price target boosted by Truist Financial from $325.00 to $400.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also commented on the stock. Evercore ISI boosted their price target on shares of GE Vernova from $300.00 to $323.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Wells Fargo & Company assumed coverage on shares of GE Vernova in a report on Thursday, November 21st. They issued an “overweight” rating and a $385.00 price target for the company. JPMorgan Chase & Co. boosted their price target on shares of GE Vernova from $330.00 to $356.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Oppenheimer assumed coverage on shares of GE Vernova in a report on Thursday, September 26th. They issued a “market perform” rating for the company. Finally, Wolfe Research started coverage on shares of GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target for the company. 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $310.98.

GE Vernova Price Performance

GE Vernova stock opened at $329.91 on Tuesday. GE Vernova has a 1 year low of $115.00 and a 1 year high of $357.09. The firm has a 50-day moving average of $309.70 and a two-hundred day moving average of $230.69.

GE Vernova announced that its Board of Directors has initiated a share buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

GE Vernova Announces Dividend

The company 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Friday, December 20th.

Institutional Trading of GE Vernova

A number of hedge funds have recently added to or reduced their stakes in GEV. Mountaineer Partners Management LLC purchased a new stake in GE Vernova during the third quarter worth $2,507,296,000. Newport Trust Company LLC purchased a new position in GE Vernova during the second quarter valued at $650,140,000. Bank of New York Mellon Corp purchased a new position in GE Vernova during the second quarter valued at $537,674,000. Marshall Wace LLP purchased a new position in GE Vernova during the second quarter valued at $399,770,000. Finally, Legal & General Group Plc purchased a new position in GE Vernova during the second quarter valued at $293,699,000.

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.