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

GE Vernova Inc. (NYSE:GEV) has been given an average recommendation of “Moderate Buy” by the twenty-eight ratings firms that are currently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation, twenty have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $326.85.

Several research analysts recently weighed in on GEV shares. Wells Fargo & Company lifted their price target on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova in a report on Monday, October 21st. They set a “buy” rating and a $354.00 price target on the stock. Truist Financial lifted their price objective on shares of GE Vernova from $400.00 to $420.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Morgan Stanley increased their target price on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Wolfe Research initiated coverage on GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target for the company.

GE Vernova Stock Up 3.8 %

Shares of GEV opened at $416.68 on Friday. The business’s 50-day moving average is $345.63 and its two-hundred day moving average is $266.62. GE Vernova has a fifty-two week low of $115.00 and a fifty-two week high of $417.21.

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

GE Vernova Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.24%.

Institutional Trading of GE Vernova

Large investors have recently added to or reduced their stakes in the stock. Mountaineer Partners Management LLC acquired a new stake in shares of GE Vernova in the third quarter valued at about $2,507,296,000. Newport Trust Company LLC acquired a new stake in GE Vernova in the second quarter valued at approximately $650,140,000. Marshall Wace LLP purchased a new stake in shares of GE Vernova during the second quarter valued at approximately $399,770,000. Legal & General Group Plc acquired a new position in shares of GE Vernova during the second quarter worth $293,699,000. Finally, Electron Capital Partners LLC boosted its stake in shares of GE Vernova by 1,641.3% in the second quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock valued at $290,589,000 after purchasing an additional 1,596,996 shares during the period.

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.