GE Vernova Inc. (NYSE:GEV) Given Consensus Rating of “Moderate Buy” by Analysts

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

A number of equities analysts have commented on the company. Bank of America lifted their target price on GE Vernova from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. TD Cowen assumed coverage on GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective for the company. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 11th. Raymond James downgraded shares of GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Finally, Truist Financial increased their price objective on shares of GE Vernova from $325.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th.

Institutional Trading of GE Vernova

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

GE Vernova Stock Up 3.0 %

NYSE GEV opened at $342.66 on Monday. GE Vernova has a one year low of $115.00 and a one year high of $357.09. The company has a 50-day simple moving average of $319.21 and a 200-day simple moving average of $238.41.

GE Vernova Announces Dividend

The firm also recently declared 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. This represents a $1.00 annualized dividend and a yield of 0.29%. The ex-dividend date is Friday, December 20th.

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

GE Vernova Company Profile

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.