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

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

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group boosted their target price on shares of GE Vernova from $324.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Morgan Stanley upped their price objective on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Royal Bank of Canada reissued an “outperform” rating and set a $376.00 target price on shares of GE Vernova in a research note on Wednesday, December 11th. Citigroup upped their price target on GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Finally, Jefferies Financial Group raised their price objective on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $321.35.

GE Vernova Trading Up 1.0 %

NYSE GEV opened at $390.86 on Thursday. The business’s fifty day simple moving average is $342.29 and its 200-day simple moving average is $261.18. GE Vernova has a 52 week low of $115.00 and a 52 week high of $397.76.

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

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date is Friday, December 20th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Castleview Partners LLC acquired a new stake in shares of GE Vernova in the 3rd quarter valued at $28,000. Pathway Financial Advisers LLC purchased a new stake in GE Vernova during the 2nd quarter worth about $29,000. Glass Jacobson Investment Advisors llc acquired a new position in shares of GE Vernova during the 2nd quarter worth about $30,000. Covestor Ltd increased its stake in GE Vernova by 61.3% in the third 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. Finally, Darwin Wealth Management LLC purchased a new position in shares of GE Vernova in the 3rd quarter valued at $31,000.

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.