GE Vernova (NYSE:GEV – Get Free Report)‘s stock had its “outperform” rating reaffirmed by investment analysts at William Blair in a research note issued on Wednesday,RTT News reports.
Other analysts also recently issued research reports about the company. Wolfe Research initiated coverage on GE Vernova in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 target price on the stock. HSBC reissued a “hold” rating and set a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. The Goldman Sachs Group boosted their price target on GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. TD Cowen initiated coverage on GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target on the stock. Finally, Bank of America boosted their price target on GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $310.98.
View Our Latest Stock Analysis on GEV
GE Vernova Stock Down 4.0 %
GE Vernova declared that its Board of Directors has initiated a stock buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. Retirement Systems of Alabama raised its position in GE Vernova by 2.4% during the 3rd quarter. Retirement Systems of Alabama now owns 61,894 shares of the company’s stock worth $15,782,000 after purchasing an additional 1,433 shares during the last quarter. Franklin Resources Inc. raised its position in GE Vernova by 3.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company’s stock worth $533,257,000 after purchasing an additional 71,067 shares during the last quarter. Tidal Investments LLC raised its position in GE Vernova by 5.4% during the 3rd quarter. Tidal Investments LLC now owns 7,271 shares of the company’s stock worth $1,854,000 after purchasing an additional 374 shares during the last quarter. Optimist Retirement Group LLC bought a new position in shares of GE Vernova in the 3rd quarter worth about $249,000. Finally, Blankinship & Foster LLC bought a new position in shares of GE Vernova in the 3rd quarter worth about $204,000.
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.
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