GE Vernova (NYSE:GEV - Free Report) had its price target hoisted by The Goldman Sachs Group from $324.00 to $400.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.
A number of other brokerages have also weighed in on GEV. William Blair reaffirmed an "outperform" rating on shares of GE Vernova in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $356.00 to $367.00 and gave the company an "overweight" rating in a report on Wednesday. Guggenheim lowered their price target on shares of GE Vernova from $400.00 to $380.00 and set a "buy" rating for the company in a research report on Wednesday. BMO Capital Markets boosted their price objective on shares of GE Vernova from $245.00 to $288.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Finally, Evercore ISI raised their target price on shares of GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a research note on Wednesday. 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $310.98.
View Our Latest Analysis on GEV
GE Vernova Trading Down 4.0 %
GEV traded down $13.89 during midday trading on Thursday, reaching $329.91. 2,939,790 shares of the company's stock traded hands, compared to its average volume of 3,452,816. GE Vernova has a 52 week low of $115.00 and a 52 week high of $357.09. The firm has a fifty day moving average of $309.70 and a two-hundred day moving average of $230.69.
GE Vernova Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders 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 yield of 0.30%.
GE Vernova declared that its board has approved a stock buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.
Institutional Investors Weigh In On GE Vernova
Hedge funds and other institutional investors have recently modified their holdings of the business. Castleview Partners LLC purchased a new position in shares of GE Vernova in the third quarter worth $28,000. Covestor Ltd raised its stake in GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company's stock worth $31,000 after acquiring an additional 46 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in GE Vernova during the 3rd quarter valued at about $31,000. Prestige Wealth Management Group LLC increased its holdings in shares of GE Vernova by 175.0% in 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 raised its stake in shares of 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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