Brokerages Set GE Vernova Inc. (NYSE:GEV) Price Target at $314.35

Shares of GE Vernova Inc. (NYSE:GEV) have received a consensus rating of “Moderate Buy” from the twenty-eight analysts that are presently covering the company, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation, twenty have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $314.35.

A number of equities analysts have issued reports on GEV shares. Royal Bank of Canada reiterated an “outperform” rating and set a $376.00 target price on shares of GE Vernova in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a report on Monday, October 21st. They set a “buy” rating and a $354.00 price objective for the company. Citigroup boosted their target price on GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Oppenheimer began coverage on shares of GE Vernova in a report on Thursday, September 26th. They issued a “market perform” rating on the stock. Finally, Barclays increased their target price on shares of GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th.

Institutional Trading of GE Vernova

Several hedge funds have recently added to or reduced their stakes in the company. Mountaineer Partners Management LLC acquired a new position in GE Vernova in the 3rd quarter valued at $2,507,296,000. Newport Trust Company LLC acquired a new position in shares of GE Vernova in the second quarter valued at about $650,140,000. Marshall Wace LLP acquired a new position in shares of GE Vernova in the second quarter valued at about $399,770,000. Legal & General Group Plc acquired a new stake in GE Vernova in the 2nd quarter worth about $293,699,000. Finally, Electron Capital Partners LLC raised its stake in GE Vernova by 1,641.3% in the 2nd quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock worth $290,589,000 after purchasing an additional 1,596,996 shares in the last quarter.

GE Vernova Trading Down 2.7 %

GE Vernova stock opened at $333.80 on Monday. The company has a 50 day moving average of $326.42 and a 200-day moving average of $245.15. GE Vernova has a twelve month low of $115.00 and a twelve month high of $357.09.

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 given a dividend of $0.25 per share. The ex-dividend date 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 repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

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.