GE Vernova (NYSE:GEV) Given “Outperform” Rating at William Blair

William Blair reissued their outperform rating on shares of GE Vernova (NYSE:GEV) in a research note released on Wednesday morning,RTT News reports.

Several other brokerages also recently commented on GEV. Barclays raised their price objective on shares of GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. The Goldman Sachs Group upped their price target on GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada boosted their target price on shares of GE Vernova from $285.00 to $376.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. TD Cowen began coverage on shares of GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 target price for the company. Finally, Truist Financial boosted their price target on shares of GE Vernova from $325.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $307.15.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $343.88 on Wednesday. The stock’s 50-day simple moving average is $307.87 and its two-hundred day simple moving average is $229.90. GE Vernova has a 52-week low of $115.00 and a 52-week high of $357.09.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Friday, December 20th.

GE Vernova declared that its board has authorized a stock 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 stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On GE Vernova

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GEV. Castleview Partners LLC acquired a new position in shares of GE Vernova during the third quarter worth $28,000. Covestor Ltd grew its stake in shares of GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in GE Vernova in the 3rd quarter valued at $31,000. Prestige Wealth Management Group LLC raised its holdings in GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares in the last quarter. Finally, Planning Capital Management Corp raised its stake in shares of GE Vernova by 1,000.0% during the 3rd quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock worth $36,000 after buying an additional 130 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.