Truist Financial Boosts GE Vernova (NYSE:GEV) Price Target to $420.00

GE Vernova (NYSE:GEV) had its price target hoisted by Truist Financial from $400.00 to $420.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. raised their price objective on GE Vernova from $367.00 to $374.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 14th. Wells Fargo & Company raised their target price on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. HSBC reissued a “hold” rating and issued a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Wolfe Research began coverage on shares of GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective for the company. Finally, Barclays upped their target price on shares of GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $321.35.

GE Vernova Trading Up 2.8 %

NYSE GEV opened at $401.84 on Thursday. GE Vernova has a twelve month low of $115.00 and a twelve month high of $404.13. The firm has a 50-day simple moving average of $344.59 and a 200 day simple moving average of $263.70.

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

GE Vernova Announces Dividend

The firm 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date is Friday, December 20th.

Institutional Trading of GE Vernova

Institutional investors and hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC bought a new position in shares of GE Vernova in the 2nd quarter worth $375,000. American Century Companies Inc. acquired a new position in GE Vernova in the second quarter valued at about $4,940,000. Envestnet Asset Management Inc. bought a new position in GE Vernova during the second quarter worth about $45,674,000. Massachusetts Financial Services Co. MA acquired a new position in shares of GE Vernova during the 2nd quarter worth about $119,390,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of GE Vernova during the 2nd quarter worth about $176,775,000.

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.