GE Vernova (NYSE:GEV) Price Target Raised to $411.00

GE Vernova (NYSE:GEV) had its target price hoisted by Wells Fargo & Company from $385.00 to $411.00 in a research note released on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also recently commented on GEV. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 11th. Jefferies Financial Group raised their price target on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday. Hsbc Global Res lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Evercore ISI increased their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, The Goldman Sachs Group lifted their target price on shares of GE Vernova from $324.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.35.

GE Vernova Stock Up 0.6 %

GEV stock opened at $332.01 on Friday. The stock’s 50 day simple moving average is $312.53 and its 200 day simple moving average is $233.23. GE Vernova has a 12-month low of $115.00 and a 12-month high of $357.09.

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

GE Vernova Announces Dividend

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

Institutional Trading of GE Vernova

Institutional investors have recently made changes to their positions in the business. Mountaineer Partners Management LLC bought a new position in GE Vernova in the 3rd quarter worth approximately $2,507,296,000. Newport Trust Company LLC bought a new position in shares of GE Vernova during the second quarter worth $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 bought a new stake in GE Vernova in the 2nd quarter valued at $399,770,000. Finally, Legal & General Group Plc purchased a new stake in GE Vernova in the 2nd quarter worth $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.