GE Vernova (NYSE:GEV) Price Target Raised to $400.00

GE Vernova (NYSE:GEV) had its price target raised by The Goldman Sachs Group from $324.00 to $400.00 in a research note published on Thursday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Hsbc Global Res downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. Wolfe Research began coverage on GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target on the stock. Barclays boosted their price objective on GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Morgan Stanley raised their target price on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $314.35.

GE Vernova Trading Up 0.6 %

Shares of NYSE GEV opened at $332.01 on Thursday. GE Vernova has a fifty-two week low of $115.00 and a fifty-two week high of $357.09. The stock has a fifty day moving average of $312.53 and a 200-day moving average of $232.84.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Friday, December 20th.

GE Vernova declared that its board has initiated a stock buyback plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Trading of GE Vernova

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after purchasing an additional 584,208 shares during the period. State Street Corp lifted its holdings in GE Vernova by 1.1% in the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after buying an additional 118,184 shares during the period. Mountaineer Partners Management LLC bought a new stake in GE Vernova during the 3rd quarter valued at approximately $2,507,296,000. Geode Capital Management LLC grew its holdings in shares of GE Vernova by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after acquiring an additional 80,479 shares during the period. Finally, Newport Trust Company LLC bought a new position in shares of GE Vernova in the 2nd quarter worth approximately $650,140,000.

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.