GE Vernova Inc. (NYSE:GEV) Receives $321.35 Consensus PT from Analysts

GE Vernova Inc. (NYSE:GEV) has earned a consensus rating of “Moderate Buy” from the twenty-eight analysts that are currently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $321.35.

Several equities research analysts recently issued reports on GEV shares. Morgan Stanley raised their target price on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Oppenheimer started coverage on shares of GE Vernova in a research report on Thursday, September 26th. They issued a “market perform” rating on the stock. Guggenheim decreased their target price on shares of GE Vernova from $400.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Evercore ISI lifted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, The Goldman Sachs Group lifted their price target on shares of GE Vernova from $400.00 to $446.00 and gave the company a “buy” rating in a research report on Thursday.

Institutional Trading of GE Vernova

Institutional investors have recently added to or reduced their stakes in the business. Waverton Investment Management Ltd boosted its holdings in shares of GE Vernova by 10.0% during the third quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock valued at $185,459,000 after acquiring an additional 66,455 shares during the period. Hanlon Investment Management Inc. acquired a new stake in GE Vernova in the 3rd quarter valued at about $1,101,000. Atria Investments Inc lifted its holdings in GE Vernova by 127.0% in the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after acquiring an additional 2,847 shares during the last quarter. Fractal Investments LLC acquired a new stake in GE Vernova in the 3rd quarter valued at about $1,530,000. Finally, Legal & General Group Plc acquired a new stake in GE Vernova in the 2nd quarter valued at about $293,699,000.

GE Vernova Price Performance

GEV opened at $401.84 on Friday. The company’s 50 day simple moving average is $344.59 and its 200 day simple moving average is $264.36. GE Vernova has a 1 year low of $115.00 and a 1 year high of $404.13.

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

GE Vernova Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.25%.

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.