GE Vernova (NYSE:GEV) Price Target Raised to $367.00

GE Vernova (NYSE:GEV) had its price target raised by JPMorgan Chase & Co. from $356.00 to $367.00 in a research report released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $376.00 price objective on shares of GE Vernova in a report on Wednesday. TD Cowen initiated coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target on the stock. Guggenheim reduced their price objective on GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday. William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Wednesday. Finally, Wolfe Research initiated coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price for the company. Seven investment 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 stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $314.35.

GE Vernova Stock Up 0.6 %

GE Vernova stock opened at $332.01 on Wednesday. GE Vernova has a one year low of $115.00 and a one year high of $357.09. The business’s fifty day moving average is $312.53 and its 200 day moving average is $232.46.

GE Vernova declared that its board has approved a stock buyback plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

GE Vernova Dividend Announcement

The firm also recently declared 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. This represents a $1.00 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Friday, December 20th.

Institutional Trading of GE Vernova

Large investors have recently made changes to their positions in the business. Mountaineer Partners Management LLC bought a new position in shares of GE Vernova in the 3rd quarter valued at about $2,507,296,000. Newport Trust Company LLC purchased a new position in shares of GE Vernova during the 2nd quarter worth about $650,140,000. Bank of New York Mellon Corp bought a new position in shares of GE Vernova during the second quarter valued at approximately $537,674,000. Marshall Wace LLP purchased a new stake in GE Vernova in the second quarter worth $399,770,000. Finally, Legal & General Group Plc purchased a new position in GE Vernova in the 2nd quarter worth about $293,699,000.

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.