GE Vernova (NYSE:GEV) Price Target Raised to $415.00

GE Vernova (NYSE:GEVFree Report) had its price objective boosted by Bank of America from $380.00 to $415.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also commented on GEV. Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a report on Monday, October 21st. They set a “buy” rating and a $354.00 price target for the company. Wells Fargo & Company increased their target price on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 11th. Barclays increased their price objective on GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Hsbc Global Res cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $321.35.

View Our Latest Report on GEV

GE Vernova Price Performance

NYSE GEV opened at $390.86 on Tuesday. GE Vernova has a 1-year low of $115.00 and a 1-year high of $397.76. The stock has a 50-day moving average of $342.29 and a 200-day moving average of $261.18.

GE Vernova announced that its board has approved a share buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Investors 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 yield of 0.26%.

Institutional Investors Weigh In On GE Vernova

Institutional investors have recently modified their holdings of the business. Castleview Partners LLC bought a new position in GE Vernova during the 3rd quarter valued at about $28,000. Covestor Ltd grew its stake in shares of GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the period. Darwin Wealth Management LLC purchased a new position in shares of GE Vernova during the third quarter valued at approximately $31,000. Prestige Wealth Management Group LLC lifted its position in GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 77 shares during the period. Finally, Planning Capital Management Corp boosted its holdings in GE Vernova by 1,000.0% in the third quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock worth $36,000 after purchasing an additional 130 shares during the last quarter.

About GE Vernova

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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.

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