William Blair Reiterates Outperform Rating for GE Vernova (NYSE:GEV)

William Blair reaffirmed their outperform rating on shares of GE Vernova (NYSE:GEV - Free Report) in a research report released on Wednesday morning,RTT News reports.

Other equities analysts have also recently issued research reports about the stock. Hsbc Global Res cut shares of GE Vernova from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 4th. TD Cowen assumed coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a "buy" rating and a $400.00 price target for the company. JPMorgan Chase & Co. raised their target price on GE Vernova from $330.00 to $356.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 3rd. Evercore ISI upped their price target on GE Vernova from $300.00 to $323.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Finally, Jefferies Financial Group lifted their price objective on GE Vernova from $293.00 to $336.00 and gave the company a "buy" rating in a report on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $307.15.

GE Vernova Stock Performance

Shares of GEV traded up $16.41 on Wednesday, reaching $343.80. 6,349,378 shares of the stock traded hands, compared to its average volume of 3,452,027. The stock's 50-day moving average price is $307.87 and its 200-day moving average price is $229.90. GE Vernova has a 12 month low of $115.00 and a 12 month high of $357.09.

GE Vernova declared that its Board of Directors has initiated a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

GE Vernova Announces Dividend

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 paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is Friday, December 20th.

Institutional Investors Weigh In On GE Vernova

A number of institutional investors have recently made changes to their positions in the stock. Castleview Partners LLC acquired a new position in shares of GE Vernova during the 3rd quarter worth about $28,000. Covestor Ltd boosted its stake in GE Vernova by 61.3% during 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 acquired a new position in GE Vernova during the third quarter valued at approximately $31,000. Prestige Wealth Management Group LLC increased its stake in 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 in the last quarter. Finally, Planning Capital Management Corp raised its holdings in 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 period.

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.