Analysts Set GE Vernova Inc. (NYSE:GEV) PT at $314.35

GE Vernova Inc. (NYSE:GEV) has earned a consensus rating of “Moderate Buy” from the twenty-eight brokerages that are presently covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation, twenty have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $314.35.

GEV has been the subject of a number of research reports. Truist Financial upped their target price on shares of GE Vernova from $325.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Evercore ISI increased their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. BMO Capital Markets increased their target price on GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. boosted their price target on shares of GE Vernova from $356.00 to $367.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Raymond James lowered shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd.

GE Vernova Stock Down 2.7 %

NYSE:GEV opened at $333.80 on Monday. The company has a 50 day simple moving average of $326.42 and a two-hundred day simple moving average of $244.14. 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 approved a share buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

GE Vernova Announces Dividend

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 $0.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.30%.

Institutional Trading of GE Vernova

Several institutional investors and hedge funds have recently modified their holdings of GEV. Deseret Mutual Benefit Administrators purchased a new position in GE Vernova during the 2nd quarter worth $25,000. Trifecta Capital Advisors LLC purchased a new position in shares of GE Vernova during the second quarter valued at $25,000. Meeder Asset Management Inc. bought a new stake in shares of GE Vernova in the second quarter valued at about $25,000. Spectrum Wealth Counsel LLC purchased a new stake in GE Vernova in the second quarter worth about $27,000. Finally, Game Plan Financial Advisors LLC bought a new position in GE Vernova during the 2nd quarter worth about $28,000.

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.