GE Vernova Inc. (NYSE:GEV) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of GE Vernova Inc. (NYSE:GEV) have earned a consensus recommendation of “Moderate Buy” from the twenty-eight ratings firms that are presently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation, twenty have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $314.35.

Several analysts have recently issued reports on the company. Bank of America increased their target price on GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Citigroup upped their price target on shares of GE Vernova from $292.00 to $361.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 11th. BMO Capital Markets upped their target price on GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, TD Cowen began coverage on shares of GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target on the stock.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $333.80 on Monday. The business’s 50 day simple moving average is $326.42 and its 200 day simple moving average is $244.14. GE Vernova has a 1 year low of $115.00 and a 1 year high of $357.09.

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

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Friday, December 20th.

Institutional Trading of GE Vernova

Several institutional investors and hedge funds have recently made changes to their positions in the company. Castleview Partners LLC bought a new position in shares of GE Vernova in the third quarter valued at approximately $28,000. Covestor Ltd increased its stake in GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in GE Vernova in the third quarter valued at approximately $31,000. Prestige Wealth Management Group LLC grew its stake in GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after buying an additional 77 shares in the last quarter. Finally, Planning Capital Management Corp raised its position 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 valued at $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.