GE Vernova (NYSE:GEV) Stock Price Expected to Rise, Citigroup Analyst Says

GE Vernova (NYSE:GEV) had its price objective increased by investment analysts at Citigroup from $292.00 to $361.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target would indicate a potential upside of 10.26% from the stock’s previous close.

A number of other brokerages also recently issued reports on GEV. William Blair initiated coverage on GE Vernova in a research report on Thursday, August 29th. They set an “outperform” rating on the stock. BMO Capital Markets increased their price target on GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Hsbc Global Res lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. TD Cowen began coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective for the company. Finally, Oppenheimer initiated coverage on shares of GE Vernova in a research report on Thursday, September 26th. They set a “market perform” rating on the stock. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $304.73.

GE Vernova Trading Down 2.3 %

NYSE GEV opened at $327.41 on Monday. GE Vernova has a 52 week low of $115.00 and a 52 week high of $357.09. The company has a 50 day moving average price of $306.45 and a 200 day moving average price of $228.84.

GE Vernova announced that its board has approved a stock buyback plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GEV. Pittenger & Anderson Inc. increased its position in shares of GE Vernova by 28.0% in the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock valued at $41,000 after buying an additional 35 shares in the last quarter. SteelPeak Wealth LLC grew its stake in GE Vernova by 2.5% in the 3rd quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company’s stock valued at $400,000 after acquiring an additional 38 shares during the period. Global Retirement Partners LLC increased its holdings in GE Vernova by 0.9% in the 3rd quarter. Global Retirement Partners LLC now owns 4,507 shares of the company’s stock worth $1,149,000 after acquiring an additional 40 shares in the last quarter. Whittier Trust Co. raised its position in GE Vernova by 1.9% during the third quarter. Whittier Trust Co. now owns 2,106 shares of the company’s stock worth $537,000 after acquiring an additional 40 shares during the period. Finally, Dunhill Financial LLC lifted its holdings in GE Vernova by 21.6% during the third quarter. Dunhill Financial LLC now owns 225 shares of the company’s stock valued at $57,000 after purchasing an additional 40 shares in the last quarter.

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.