GE Vernova Inc. (NYSE:GEV - Get Free Report)'s stock price traded up 2.4% during trading on Friday after The Goldman Sachs Group raised their price target on the stock from $400.00 to $446.00. The Goldman Sachs Group currently has a buy rating on the stock. GE Vernova traded as high as $399.06 and last traded at $400.23. 656,905 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 2,555,010 shares. The stock had previously closed at $391.00.
A number of other brokerages have also recently commented on GEV. Royal Bank of Canada reaffirmed an "outperform" rating and set a $376.00 price target on shares of GE Vernova in a research report on Wednesday, December 11th. Evercore ISI lifted their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. TD Cowen initiated coverage on GE Vernova in a research report on Thursday, December 5th. They set a "buy" rating and a $400.00 target price on the stock. Barclays lifted their price target on GE Vernova from $320.00 to $420.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Finally, Guggenheim reduced 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, December 11th. Seven analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $321.35.
Check Out Our Latest Report on GE Vernova
Institutional Trading of GE Vernova
A number of hedge funds have recently modified their holdings of the business. Castleview Partners LLC bought a new position in shares of GE Vernova during the third quarter valued at approximately $28,000. Covestor Ltd increased its position in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company's stock valued at $31,000 after buying an additional 46 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in GE Vernova during the third quarter valued at $31,000. Prestige Wealth Management Group LLC boosted its holdings in GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company's stock worth $31,000 after acquiring an additional 77 shares in the last quarter. Finally, Planning Capital Management Corp grew 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 acquiring an additional 130 shares during the last quarter.
GE Vernova Trading Up 2.8 %
The firm has a fifty day moving average price of $343.37 and a two-hundred day moving average price of $262.08.
GE Vernova Announces Dividend
The company also recently announced 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. The ex-dividend date is Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.25%.
GE Vernova announced that its Board of Directors has authorized a stock buyback plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its shares are undervalued.
GE Vernova Company Profile
(
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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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