GE Vernova Inc. (NYSE:GEV) Receives $321.35 Consensus PT from Brokerages

GE Vernova Inc. (NYSE:GEV - Get Free Report) has been given an average rating of "Moderate Buy" by the twenty-eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, twenty have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $321.35.

A number of equities research analysts recently issued reports on GEV shares. Evercore ISI boosted their target price on shares of GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. BMO Capital Markets boosted their target price on shares of GE Vernova from $245.00 to $288.00 and gave the company an "outperform" rating in a report on Monday, October 14th. Royal Bank of Canada restated an "outperform" rating and issued a $376.00 target price on shares of GE Vernova in a report on Wednesday, December 11th. William Blair restated an "outperform" rating on shares of GE Vernova in a report on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova in a research note on Monday, October 21st. They set a "buy" rating and a $354.00 price objective for the company.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Donoghue Forlines LLC bought a new position in shares of GE Vernova in the 4th quarter worth about $2,044,000. MinichMacGregor Wealth Management LLC lifted its position in shares of GE Vernova by 24.7% in the 4th quarter. MinichMacGregor Wealth Management LLC now owns 2,726 shares of the company's stock worth $897,000 after buying an additional 540 shares during the last quarter. Mutual Advisors LLC lifted its position in shares of GE Vernova by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company's stock worth $888,000 after buying an additional 31 shares during the last quarter. Wendell David Associates Inc. bought a new position in shares of GE Vernova in the 4th quarter worth about $203,000. Finally, Traynor Capital Management Inc. bought a new position in shares of GE Vernova in the 4th quarter worth about $231,000.

GE Vernova Stock Performance

Shares of NYSE:GEV traded up $10.84 during trading on Friday, reaching $401.84. The stock had a trading volume of 2,306,343 shares, compared to its average volume of 2,714,350. The business has a fifty day moving average price of $343.37 and a 200-day moving average price of $262.08. GE Vernova has a fifty-two week low of $115.00 and a fifty-two week high of $404.13.

GE Vernova declared that its board has approved a share buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.25%.

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.