GE Vernova (NYSE:GEV) Given New $367.00 Price Target at JPMorgan Chase & Co.

GE Vernova (NYSE:GEV - Free Report) had its price objective hoisted by JPMorgan Chase & Co. from $356.00 to $367.00 in a report released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms have also recently commented on GEV. Jefferies Financial Group increased their price target on shares of GE Vernova from $293.00 to $336.00 and gave the company a "buy" rating in a report on Friday, October 18th. Hsbc Global Res downgraded GE Vernova from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 4th. Oppenheimer began coverage on GE Vernova in a report on Thursday, September 26th. They issued a "market perform" rating for the company. HSBC reaffirmed a "hold" rating and set a $255.00 price target (up from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Finally, Morgan Stanley lifted their price objective on GE Vernova from $301.00 to $367.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. 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. Based on data from MarketBeat, GE Vernova has an average rating of "Moderate Buy" and an average target price of $307.15.

GE Vernova Trading Up 5.0 %

NYSE GEV traded up $16.49 during trading hours on Wednesday, reaching $343.88. 6,668,676 shares of the company's stock traded hands, compared to its average volume of 3,452,027. GE Vernova has a 52-week low of $115.00 and a 52-week high of $357.09. The firm has a 50-day simple moving average of $307.87 and a 200 day simple moving average of $229.90.

GE Vernova declared that its Board of Directors has initiated a share buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in 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 an indication that the company's management 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. Stockholders of record on Friday, December 20th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, December 20th.

Hedge Funds Weigh In On GE Vernova

Several large investors have recently added to or reduced their stakes in GEV. Waverton Investment Management Ltd lifted its holdings in GE Vernova by 10.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company's stock worth $185,459,000 after purchasing an additional 66,455 shares in the last quarter. Hanlon Investment Management Inc. bought a new stake in shares of GE Vernova during the third quarter valued at approximately $1,101,000. Atria Investments Inc raised its position in shares of GE Vernova by 127.0% during the third quarter. Atria Investments Inc now owns 5,088 shares of the company's stock valued at $1,297,000 after buying an additional 2,847 shares during the last quarter. Fractal Investments LLC purchased a new position in shares of GE Vernova in the third quarter worth $1,530,000. Finally, Legal & General Group Plc bought a new position in shares of GE Vernova during the second quarter worth $293,699,000.

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.