Brokerages Set GE Vernova Inc. (NYSE:GEV) Price Target at $314.35

GE Vernova Inc. (NYSE:GEV) has earned an average rating of “Moderate Buy” from the twenty-eight brokerages that are currently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $314.35.

Several research firms have weighed in on GEV. Wolfe Research assumed coverage on GE Vernova in a research note on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target on the stock. Jefferies Financial Group upped their target price on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Evercore ISI raised their price target on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Truist Financial lifted their price objective on shares of GE Vernova from $325.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company increased their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th.

GE Vernova Price Performance

Shares of GEV opened at $347.29 on Monday. The company’s fifty day moving average price is $322.33 and its 200-day moving average price is $241.54. GE Vernova has a 1-year low of $115.00 and a 1-year high of $357.09.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be given a $0.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.29%.

GE Vernova declared that its board has authorized a stock repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On GE Vernova

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pittenger & Anderson Inc. grew its stake in GE Vernova by 28.0% during the 3rd quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock valued at $41,000 after acquiring an additional 35 shares in the last quarter. SteelPeak Wealth LLC boosted its holdings in shares of GE Vernova by 2.5% during the 3rd quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company’s stock worth $400,000 after purchasing an additional 38 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of GE Vernova by 0.9% in the third quarter. Global Retirement Partners LLC now owns 4,507 shares of the company’s stock valued at $1,149,000 after purchasing an additional 40 shares in the last quarter. Whittier Trust Co. increased its holdings in shares of GE Vernova by 1.9% in the third quarter. Whittier Trust Co. now owns 2,106 shares of the company’s stock valued at $537,000 after purchasing an additional 40 shares during the last quarter. Finally, Dunhill Financial LLC lifted its position in GE Vernova by 21.6% during the third quarter. Dunhill Financial LLC now owns 225 shares of the company’s stock worth $57,000 after buying an additional 40 shares in the last quarter.

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.