GE Vernova (NYSE:GEV) Price Target Raised to $420.00

GE Vernova (NYSE:GEV) had its price objective hoisted by Truist Financial from $400.00 to $420.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. TD Cowen initiated coverage on GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on GE Vernova from $367.00 to $374.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 14th. Wells Fargo & Company upped their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Hsbc Global Res downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. Finally, BMO Capital Markets upped their price target on shares of GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $321.35.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $401.84 on Thursday. GE Vernova has a 1-year low of $115.00 and a 1-year high of $404.13. The company has a 50 day moving average price of $344.59 and a 200 day moving average price of $263.70.

GE Vernova announced that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date is Friday, December 20th.

Hedge Funds Weigh In On GE Vernova

Institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC acquired a new position in GE Vernova in the 2nd quarter valued at $375,000. American Century Companies Inc. acquired a new stake in shares of GE Vernova in the second quarter valued at about $4,940,000. Envestnet Asset Management Inc. bought a new position in shares of GE Vernova in the second quarter worth about $45,674,000. Massachusetts Financial Services Co. MA acquired a new position in shares of GE Vernova during the 2nd quarter worth about $119,390,000. Finally, Dimensional Fund Advisors LP bought a new stake in GE Vernova during the 2nd quarter valued at approximately $176,775,000.

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.